We study whether segmented labor markets with flexibility at the margin (e.g., just affecting fixed-term employees) can achieve similar volatility than fully deregulated labor markets. Flexibility at the margin produces a gap in separation costs among matched workers that cause fixed-term...

Pissarides (2009) has argued that the standard search model with sunk fixed matching costs increases unemployment volatility without introducing an unrealistic response of wages of new matches to productivity shocks. We revise the role of matching costs and show that when these costs are not...

We study the business cycle behavior of segmented labor markets with flexibility at the margin (e.g., just affecting fixed-term employees) and ask whether these types of labor markets can display similar volatilities as fully deregulated ones. We present a matching model with temporary and...

This paper studies the intergenerational persistence of work hours. In particular, I look at the correlation of hours between fathers and sons in the U.S. Using data from the Panel Study of Income Dynamics, I nd a strong persistence in the permanent component of hours worked. I investigate the...

This paper uses data on farmers' price expectations from a survey of randomly sampled smallholder farmers in Mozambique. Survey data show that across all crops most interviewed farmers expect prices to be higher in the lean season. Yet, farmers report selling most of their output shortly after...

We use data on price expectations from a survey of randomly sampled smallholder farmers in Mozambique. Across all crops, farmers expect higher prices in the lean season. Yet, farmers report selling mostly within two weeks of harvest at significantly lower prices with liquidity constrained...

We explore empirically how the time-varying allocation of credit across firms with heterogeneous credit quality matters for financial stability outcomes. Using firm-level data for 55 countries over 1991-2016, we show that the riskiness of credit allocation, captured by Greenwood and Hanson...