This paper explores labor productivity growth in a Lentz and Mortensen (2005 a,b) model with labor market frictions

In this paper we consider a risk averse worker who is moving back and forth between employment and unemployment; layoffs are random and beyond the worker's influence, while the re-employment chance is directly affected by search effort. We characterize the worker's optimal savings and job-search...

In this paper we consider a risk averse worker who is moving back and forth between employment and unemployment; layoffs are random and beyond the worker’s influence, while the re-employment chance is directly affected by search effort. We characterize the worker’s optimal savings and...

In this paper we study a risk averse worker's optimal savings and job-search behavior as she moves back and forth between employment and unemployment. Recent empirical findings suggest a negative association between a risk averse worker's search effort and wealth. We show that additively...

In this paper we consider a risk averse worker who is moving back and forth between employment and unemployment; layoffs are random and beyond the worker s influence, while the re-employment chance is directly affected by search effort. We characterize the worker s optimal savings and job-search...

In a simple search model of money, we study a special kind of memory which gives rise to an arrangement resembling a payment network. Specifically, we assume that agents can choose to have access to a central data base which keeps track of payments made and received. We show that multiple...

This paper extends Shimer's (2005) Mismatch model to allow for endogenous mobility. Rather than work directly in the original model, I use a related framework, the stock-flow matching model (Taylor, 1995; Coles and Muthoo, 1998). One of the contributions of this paper is therefore to compare the...

This paper investigates how the degree of trading frictions in asset markets affects portfolio allocations, asset prices, efficiency, and several measures of liquidity, such as execution delays, bid-ask spreads, and trade volumes. To this end, we generalize the search-theoretic model of...