In this paper we present a search and matching model in which firms invest in sunk capital equipment. By comparing two wage setting scenarios, we show that a two-tier bargaining scheme, where a fraction of the salary is negotiated at firm level, raises the amount of investment per worker in the...

This paper explores the economic effects of imperfect meritocracy in recruitment and career advancement. We compare two career promotion mechanisms: a fully meritocratic system and a "noisy" one, that allows less productive workers to advance. Our model shows that imperfect meritocracy in...

In this paper we present a search and matching model in which firms invest in sunk capital equipment. By comparing two wage setting scenarios, we show that a two-tier bargaining scheme, where a fraction of the salary is negotiated at firm level, raises the amount of investment per worker in the...

We study the effects on employment, costs of living, and income inequality of local shocks in the housing market or in the productivity of a tradable good. We construct a two-region search and matching model in which housing is considered a necessity good. Mobility of labor implies that any...

We study the impact of monitoring in a workplace context where both firms and employees are unable to perfectly observe the individual worker contribution to total output. Therefore, in our setting monitoring is not aimed at reducing information asymmetries but still affects effort and output....

We explore the long run determinants of current differences in the degree of cooperative labor relations at local level. We do this by estimating the causal effect of the medieval communes - that were established in certain cities in Centre-Northern Italy towards the end of the 11th century -...

We explore the long run determinants of current differences in the degree of cooperative labor relations at local level. We do this by estimating the causal effect of the medieval communes -that were established in certain cities in Centre-Northern Italy towards the end of the 11th century- and...

We explore the long run determinants of current differences in the degree of cooperative labor relations at local level. We do this by estimating the causal effect of the medieval communes - that were established in certain cities in Centre-Northern Italy towards the end of the 11th century -...