We develop a new method for characterizing global solutions to search and matching
models with aggregate shocks and heterogeneous agents. We formulate general …

We develop a theory of labor markets in a monetary economy with four realistic features:
search frictions, worker productivity shocks, wage rigidity, and two-sided lack of commitment …

We develop a theory of labor markets with four features: search frictions, worker productivity
shocks, wage rigidity, and two-sided lack of commitment. Inefficient job separations occur in …

The study intends to analyse the realities of labour market regulation in the transition
economies of Eastern Europe, the Caucasus, and Central Asia using Keynesian theory and …

This paper develops a macroeconomic model that combines an incomplete-markets
overlapping-generations economy with a job ladder featuring sequential wage bargaining …

This paper examines the efficiency of a decentralized equilibrium in a broad class of random-
search job-ladder models. We decompose the source of inefficiency into two margins:(i) …

We develop a methodology to consistently estimate employer-to-employer (EE) mobility
toward higher paying jobs based on publicly available microdata from the Current …

In the past decade, a new paradigm for fiscal and monetary policy analysis has emerged,
combining the canonical macro model of income and wealth inequality with the New …

Abstract We develop a Heterogeneous Agents New Keynesian (HANK) model with a job
ladder and endogenous on-the-job search (OJS) that challenges the traditional view of a …

Since the advent of Heterogeneous Agent New Keynesian (HANK) models, countercyclical
unemployment risk has been deemed an important amplification mechanism for business …