We study a competitive market for a homogeneous good, in which the only uncertainty concerns the number of identical sellers, who are sampled by a finite Poisson process from a continuum of potential participants. It is shown that, in equilibrium, there is price dispersion. Specifically, prices...

Consider a decentralized, dynamic market with an infinite horizon and participation costs in which both buyers and sellers have private information concerning their values for the indivisible traded good. Time is discrete, each period has length δ, and each unit of time continuums of new buyers...

This paper provides a directed search model designed to explain the residual part of wage variation left over after the impact of education and other observable worker characteristics has been removed. Workers have private information about their characteristics at the time they apply for jobs....

This paper analyzes Bayesian normal form games in which players write contracts that condition their actions on the contracts of the other players. These contracts are required to be representable in a formal language. This is accomplished by constructing contracts which are definable functions...

We study the propensity of disabled persons to engage in volunteer activity with the Participation and Activity Limitation Survey (PALS) -- a unique Canadian dataset which provides extensive information on disabled persons as well as volunteering behaviour. Our principal focus is on the effects...

In this paper I estimate the magnitude of earnings losses faced by workers who are displaced when over the age of 50. This is potentially complicated by the self-selection of older individuals out of the labour force and into activities such as retirement, preventing observation of their...

This study investigates post-migration educational investment among newly arrived immigrants and examines the effect of post-migration education on new immigrants’ labour market integration, as measured by earnings and occupational status. The results indicate that younger immigrants who...

Many wonder whether teacher gender plays an important role in higher education by influencing student achievement and subject interest. The data used in this paper helps identify average effects from male and female university students assigned to male or female teachers. In contrast to previous...

This study investigates the causal effects of education on individuals’ adaptability to employment shocks. Specifically, we assess the extent to which education influences re-employment success for unemployed workers. We also examine the impact of education on job search intensity, one...

The central objective of this study is to investigate the income sources and patterns of prime-age and older workers who suffer a layoff from steady employment. We focus on a set of cohorts who are deemed to have a high degree of attachment to the labour force preceding the event of an...