We consider a competitive search model where firms with vacancies choose between posting a wage ex ante and bargaining it with workers ex post. Workers apply for vacancies after observing firms' wage setting decisions, and dffer in some observable but not verifiable qualifications that affect...

We quantify the gains from regulating banks' maturity transformation in an infinite horizon model of banks which finance long-term assets with non-tradable debt. Banks choose the amount and maturity of their debt trading off investors' preference for short maturities with the risk of systemic...