by Jake Bradley and Axel Gottfries. Published in Quantitative Economics. We set up a model with on‐the‐job search in which firms infrequently post vacancies for which workers occasionally apply. The model nests the...
Publications
Currency Areas and Voluntary Transfers
Currency Areas and Voluntary Transfers By Tim Worrall and Pierre M. Picard Published in the Journal of International Economics Abstract: Fiscal integration is recognized as an important issue in determining whether...
Firm Wage Differentials and Labor Market Sorting: Reconciling Theory and Evidence
Firm Wage Differentials and Labor Market Sorting: Reconciling Theory and Evidence By Rafael Lopes de Melo Published in Journal of Political Economy Abstract: Why do firms pay different wages? Empirical evidence suggests...
Heterogeneity in Expectations, Risk Tolerance, and Household Stock Shares: The Attenuation Puzzle
Heterogeneity in Expectations, Risk Tolerance, and Household Stock Shares: The Attenuation Puzzle By Matthew Shapiro, John Ameriks, Gábor Kézdi, and Minjoon Lee Published in the Journal of Business and Economic...
Minding Your Ps and Qs: Going from Micro to Macro in Measuring Prices and Quantities
Minding Your Ps and Qs: Going from Micro to Macro in Measuring Prices and Quantities By Matthew Shapiro, Gabriel Ehrlich, John Haltiwanger, Ron Jarmin, and David Johnson Published in AEA Papers and Proceedings Abstract:...
Occupational Mobility and the Returns to Training
Occupational Mobility and the Returns to Training By Iourii Manovski, Gueorgui Kambourov, and Miana Plesca. Published in the Canadian Journal of Economics Abstract: The literature on the returns to training has pointed...
Credit Booms, Financial Crises and Macroprudential Policy
Credit Booms, Financial Crises and Macroprudential Policy By Nobuhiro Kiyotaki, Mark Gertler and Andrea Prestipino Published in the Review of Economics Abstract: We develop a model of banking panics which is consistent...
A global CO2 price – Necessary and sufficient
A global CO2 price – Necessary and sufficient By John Hassler Published in the Journal of the Finnish Economic Association Abstract: During the last 10 years, I have spent most of my research time on the economics...
Multiple Applications, Market Power and Competing Mechanisms
Multiple Applications, Market Power and Competing Mechanisms By Pieter Gautier, James Albrecht, Xiaming Cai, Susan Vroman Published in the Journal of Economic Theory Abstract: We consider a labor market with search...
Flow origins of labor force participation fluctuations
Flow origins of labor force participation fluctuations By Mike Elsby, Bart Hobijn, Fatih Karahan, Gizem Koşar and Ayşegül Şahin Publish in American Economic Association (AEA) Papers and Proceedings in 2019 Abstract We...
How Prevalent Is Downward Rigidity in Nominal Wages? International Evidence from Payroll Records and Pay Slips
How Prevalent Is Downward Rigidity in Nominal Wages? International Evidence from Payroll Records and Pay Slips By Mike Elsby and Gary Solon Published in Journal of Economic Perspectives in 2019 Abstract: For more than...
Impacts of climate mitigation strategies in the energy sector on global land use and carbon balance
Impacts of climate mitigation strategies in the energy sector on global land use and carbon balance by John Hassler, Kerstin Engström, Mats Lindeskog, Stefan Olin, and Benjamin Smith Published in Earth System Dynamics...
And Yet It Moves: Inflation and the Great Recession
And Yet It Moves: Inflation and the Great Recession by David Miles, Ugo Panizza, Ricardo Reis, Ángel Ubide Published in 19th Geneva Report on the World Economy, CEPR via VoxEU Abstract Over the last decade, the...
Working Papers
Summaries
Wage Adjustment in the Great Recession and Other Downturns: Evidence from the United States and Great Britain
Summary As of a quarter century ago, the conventional wisdom among macroeconomists was that real wage rates are more or less noncyclical, and many macroeconomic models described wage inflexibility as a key contributor...
The extent and cyclicality of career changes: Evidence for the U.K.
Summary One of the most important functions of the labour market is to pair the right set of workers with the right set of jobs. This assignment process, however, is slowed down by frictions that impede the reallocation...
