This book originated from a 2010 conference marking the fortieth anniversary of the publication of the landmark "Phelps volume," Microeconomic Foundations of Employment and Inflation Theory, a book that is often credited with pioneering the currently dominant approach to macroeconomic analysis....

Labor-market intermediaries play an important role in turnover in many labor markets. This paper analyzes one class of such intermediaries, namely, search firms. The authors first model the hiring decision of the firm in both succession and replacement planning. They show that employers will, in...