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 …

This essay surveys the literature on directed/competitive search, covering theory and
applications in, eg, labor, housing and monetary economics. These models share features …

We develop a framework for optimal taxation when agents can earn their income both in
traditional activities, where private and social products coincide, and in rent-seeking …

Economic competition between humans leads to income inequality, but, so far, there has
been little understanding of underlying quantitative mechanisms governing such a collective …

A dynamic equilibrium model of schooling, borrowing, and job search is developed to
quantify the aggregate implications of student loans. In my model, risk-averse agents under …

I develop a new theory of wage rigidity and unemployment fluctuations. The starting point of
my analysis is a generalized version of Burdett and Mortensen's (1998) job ladder model …

This review surveys the literature on sorting in the labor market. There are inherent
differences in worker ability and across-firm productivity. Two fundamental questions are …

We derive a sufficient statistics tax formula in a model that incorporates unemployment and
endogenous wages to study the shape of the optimal income tax. Key sufficient statistics are …

We propose a theory that analyzes how a workers' asset holdings affect their job
productivity. In a labor market with uninsurable risk, workers choose to direct their job search …

We develop a dynamic quantitative model of occupational choice and search frictions with
multiple channels of intergenerational transmission (comparative advantage, social …