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

Economic agents are not always rational or farsighted and can make decisions according to
simple behavioral rules that vary according to situation and can be studied using the tools of …

We document the evolution of market power based on firm-level data for the US economy
since 1955. We measure both markups and profitability. In 1980, aggregate markups start to …

This paper develops a micro-founded general equilibrium model of payments to study the
impact of a central bank digital currency (CBDC) on intermediation of private banks. If banks …

We survey the recent empirical and theoretical developments in the literature on the relation
between prices and exchange rates. After updating some of the major findings in the …

The Theory of Industrial Organization is the first primary text to treat the new industrial
organization at the advanced-undergraduate and graduate level. Rigorously analytical and …

There have been many claims that the Internet represents a new nearly “frictionless market.”
Our research empirically analyzes the characteristics of the Internet as a channel for two …

Labor economists have long recognized that many workers find jobs through friends and
relatives; personnel researchers argue that employee referrals are a useful device for …

A systematic, rigorous, comprehensive, and unified overview of evolutionary game theory.
This text offers a systematic, rigorous, and unified presentation of evolutionary game theory …

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