In the last decades, the OECD labor markets faced important labor supply changes with the arrival of women and the … composition of the labor force, between-groups wage inequality and the level of unemployment. The main result is that a labor … market with wage rigidities may not recover from such a temporary labor supply shock: with a younger and less experienced …

differences in labor mobility and reallocation costs, which are typically ignored in American "International Trade" textbooks … human capital investments: they are not independent of the aggregate state of labor markets, and in particular, frictions … and slackness of the labor market raises the returns to specific human capital investments relative to general capital …

labor market in which workers? location in an agglomeration depends on commuting costs, the endogenous price of land and the … land and labor markets are solved for simultaneously. We then compare this decentralized equilibrium to a social planner … interaction between land and labor markets, and decompose the equilibrium unemployment rate into two parts: a pure non-spatial one …

Labor market frictions are not the only possible factor responsible for high unemployment. Credit market imperfections …. This paper shows that labor and credit market imperfections interact in a complementary way - which may explain why … European and US unemployment differ so much when labor markets have become more similar at the margin in Europe and the US. To …

In search of a macroeconomic theory of wage determination, the agnostic reader should be puzzled by the apparent … contradiction between two influential theories. On one hand, in the standard search-matching theory with wage bargaining, hiring … cost and constant returns of labor, the bargaining power of employees allows them to get rents and gives rise either to …

labor market states. In steady-state, we hence have a theory of equilibrium unemployment determined by both matching … labor force and rises the share of attached workers. Finally, our theory suggests that contrary to two-state models … frictions and labor market participation margins. The paper firstly rationalizes and quantitatively accounts for the existence …

A search model of the labor market is augmented to include commuting time to work. The theory posits that wages are … impact of commute time on job acceptance decisions. We also use the theory to calculate the bargaining power of workers which …