Paper we analyse a model with search frictions and heterogeneous production technologies, in which imposition of a minimum … wage affects wages even though, after imposition, the lowest wage in the market exceeds the minimum wage. The model has …

underlying theory is the search and matching model, with workers and firms engaging in costly search leading to random matching … from it, generated by matching. …

This paper surveys recent work in equilibrium models of labor markets characterized by search and recruitment frictions … bargaining and wage posting by firms. We use the framework to study the influence of alternative labor market institutions and … policies on wages and unemployment. …

the natural rate of unemployment and other key outcomes, such as unemployment duration, wages, and the asset value of the … job-worker match. Effects on the persistence, co-movement and volatility of the major variables along the business cycle …

change increases skilled wages, reduces unskilled wages and increases the unemployment rate of both skilled and unskilled …

This paper surveys the use of search and matching models in macroeconomics. It outlines the standard model, discusses …

who suffer involuntary layoffs. Matching and search-island models have labour market frictions and incomplete markets. The …

endogenously determined wages. A key feature of the model is that policymakers exploit random matching to produce some assortative …The Paper examines the time sequencing of UI benefits in a general equilibrium framework, with random matching and … matching through UI policy. The Paper considers a mechanism whereby a declining UI time profile makes unemployed workers …

Does the search and matching model fit aggregate US labour market data? While the model has become an important tool of … specifications of the data on many dimensions, though not on all. This includes capturing the high persistence and high volatility of …

the elasticity of the matching function. …