Wages are only mildly cyclical, implying that shocks to labour demand have a larger short-run impact on unemployment … rather than wages, at odds with the quantitative predictions of the canonical search and matching model. This paper provides … cyclicality of wages if the replacement ratio is implausibly high. We show that this failure remains even if wages are only …

? How are wages determined? What role do labor market dynamics play in explaining business cycles and growth? The survey …

the economic literature is that jobs created through this channel are of better quality and pay higher wages than jobs …

higher realized wages and not more matches, because the scale effects on matches are offset by the response of reservation … wages. …

find scale effects in wage offers but not in offer arrival rates. We also find that reservation wages rise to deliver … higher post-unemployment wages but not faster matches, so aggregate matching functions are unaffected by scale. …

wages in new matches. I summarize microeconometric evidence on wages in new matches and show that the key model elasticities … cyclical volatility of wages. I discuss some extensions of the model that can increase cyclical unemployment volatility through …

wages, employment, occupations and locations of blue-collar native workers. The natives in the sample are initially in … substantial evidence that immigration lowers the median annual wages of natives. The estimated negative effects are also much … endogenous changes in occupation and location attenuate the impact of immigration on natives’ wages. We also find much larger …