Infrequency of purchase models are alternatives to those derived from the classical 'utility maximization with binding nonnegativity constraints'scheme for modeling purchases that occur at random dates. An extension of those models is proposed that takes into account additional information about...

It is often argued that informal labor markets in developing countries promote growth by reducing the impact of regulation. On the other hand informality may reduce the amount of social protection offered to workers. We extend the wage-posting framework of Burdett and Mortensen (1998) to allow...

It is often argued that informal labor markets in developing countries promote growth by reducing the impact of regulation. On the other hand informality may reduce the amount of social protection offered to workers. We extend the wage-posting framework of Burdett and Mortensen (1998) to allow...