for individual characteristics, local average human capital is positively correlated with individual wages, with estimated … social returns between 2 and 3 percent. This result is robust to alternative estimation methods and does not seem to depend …

In flow models of the labor market, wages are determined by negotiations between workers and employers on the surplus …

This paper provides new empirical evidence on the relationship between reservation wages of unemployed workers and … perspective on how reservation wages change over time and how they correlate with accepted wage offers for workers who move from …

calibrated to the U.S. shows that market incompleteness affects individual behavior and aggregate conditions: it reduces wages …

-specific variable, it is known that there are K reservation wages that could be posted, but generically never more than two actually are … posted in equilibrium. What is unknown is when we get two wages, and which wages are actually posted. For an example with K … combination of posted reservation wages, depending on parameters. We also show how wages, profits, and unemployment depend on …