When is the level of entry of buyers or sellers efficient in markets with search and matching frictions? This paper generalizes the well-known Hosios condition for constrained efficiency to a wide range of dynamic search and matching environments where the expected match output depends on the...

This paper presents a unified approach to production, matching, and distribution in an environment with labor market frictions. I use competing auctions as both a wage determination mechanism and a microfoundation for an aggregate production and matching technology. For any well-behaved...