Most countries exhibit large and persistent geographical differences in wages, income, and
unemployment rates. A growing class of place-based policies attempts to address these …

This paper surveys the microfoundations, empirical evidence, and estimation issues
underlying the aggregate matching function. There is no consensus yet on microfoundations …

This paper quantifies employer market power in US manufacturing and how it has changed
over time. Using administrative data, we estimate plant-level markdowns—the ratio between …

I discuss the recent literature that has led to new interest in the idea of monopsonistic wage
setting. Building on advances in search theory and in models of differentiated products …

The growth of the sharing economy has received increasing attention from economists.
Some researchers have examined how these new business models shape market …

Countries around the world are enacting pay transparency policies to combat pay
discrimination. Since 2000, 71 percent of OECD countries have done so. Most are enacting …

In this paper we model a job-specific shock process in the matching model of unemployment
with non-cooperative wage behaviour. We obtain endogenous job creation and job …

Job loss comes with large present value earnings losses which elude workhorse models of
unemployment and labor market policy. I propose a parsimonious model of a frictional labor …

This paper describes a simple framework for evaluating the allocative performance of
economies characterized by trading frictions and unemployment. This framework integrates …

This book shows through argument and numerous policy-related examples how
understanding moral philosophy can improve economic analysis, how moral philosophy can …