Toward understanding assortative matching, this is a self-contained introduction to research
on search and matching. We first explore the nontransferable and perfectly transferable …

This essay surveys the literature on directed search and competitive search equilibrium,
covering theory and a variety of applications. These models share features with traditional …

It is increasingly recognized that labor markets are pervasively imperfectly competitive, that
there are rents to the employment relationship for both worker and employer. This chapter …

Could we significantly reduce US unemployment by helping job seekers move closer to
jobs? Using data from the leading employment board CareerBuilder. com, we show that …

We propose a new measure of frictional wage dispersion: the meanmin wage ratio. For a
large class of search models, we show that this measure is independent of the wage-offer …

Digital peer-to-peer marketplaces have increased the volume of trade in underutilized
assets. I use the setting of Airbnb to investigate transaction costs in these markets and the …

This paper studies the assignment of heterogeneous workers to heterogeneous jobs. Owing
to the anonymity of a large labor market, workers use mixed strategies when applying for …

We develop a life-cycle model of the labor market in which different worker–firm matches
have different quality and the assignment of the right workers to the right firms is time …

We study the long-run relation between money (inflation or interest rates) and
unemployment. We document positive relationships between these variables at low …

We introduce and solve a new class of “downward‐recursive” static portfolio choice
problems. An individual simultaneously chooses among ranked stochastic options, and …