At an exogenous deadline, Receiver must take an action, the payoff of which depends on Sender's private binary type. Sender privately observes whether and when an opportunity to start a public flow of information about her type arrives. She then chooses when to seize this opportunity. Starting...

This paper develops a New Keynesian model with search frictions in which generated frictional unemployment is consistent with the time series of involuntary unemployment collected by the U.S. Bureau of Labor Statistics. Thus, it can shed light on the relevant impact of labor market frictions and...