Add to ORKGWe provide a quantitative exploration of business cycles in a frictional labor market under contract-posting. The steady-state random search and wage-posting model of Burdett and Mortensen (1998) has become the canonical structural framework for empirical analysis of worker turnover and equilibrium wage dispersion. In this paper, we provide an efficient algorithm to simulate a dynamic stochastic equilibrium version of this model, the Stochastic Burdett-Mortensen (SBM) model, and evaluate its performance against empirical evidence on fluctuations in unemployment, vacancies and wages
We develop an equilibrium model of on-the-job search with ex-ante heterogeneous workers and firms, a...
We develop an empirical search-matching model which is suitable for analyzing the wage, employment a...
Macroeconomic models of the economy with rigid wage structures tend to predict unrealistically volat...
We provide a quantitative exploration of business cycles in a frictional labor market under contract...
We analyze a stochastic equilibrium contract-posting model. Firms post employment contracts, wages c...
The canonical framework of Burdett and Mortensen (1998) derives wage dispersion as the unique equili...
We study equilibrium wage and employment dynamics in a class of popular search models with wage post...
We develop an equilibrium model of on-the-job search with ex ante heterogeneous workers and firms, a...
This paper introduces risk averse workers into a search and matching model and considers the quanti...
We generalize the Mortensen-Pissarides (1994) model of the labor market with a more realistic struc...
A rich but tractable variant of the Burdett-Mortensen model of wage setting behavior is formulated a...
The paper develops a model of directed search on the job where transitions of workers between unempl...
This paper considers equilibrium quit turnover in a frictional labor market with costly hiring by fi...
We build an analytically and computationally tractable stochastic equilibrium model of unemployment ...
In this paper I explore wage-tenure contracts in a random search framework, where work-ers search on...
We develop an equilibrium model of on-the-job search with ex-ante heterogeneous workers and firms, a...
We develop an empirical search-matching model which is suitable for analyzing the wage, employment a...
Macroeconomic models of the economy with rigid wage structures tend to predict unrealistically volat...
We provide a quantitative exploration of business cycles in a frictional labor market under contract...
We analyze a stochastic equilibrium contract-posting model. Firms post employment contracts, wages c...
The canonical framework of Burdett and Mortensen (1998) derives wage dispersion as the unique equili...
We study equilibrium wage and employment dynamics in a class of popular search models with wage post...
We develop an equilibrium model of on-the-job search with ex ante heterogeneous workers and firms, a...
This paper introduces risk averse workers into a search and matching model and considers the quanti...
We generalize the Mortensen-Pissarides (1994) model of the labor market with a more realistic struc...
A rich but tractable variant of the Burdett-Mortensen model of wage setting behavior is formulated a...
The paper develops a model of directed search on the job where transitions of workers between unempl...
This paper considers equilibrium quit turnover in a frictional labor market with costly hiring by fi...
We build an analytically and computationally tractable stochastic equilibrium model of unemployment ...
In this paper I explore wage-tenure contracts in a random search framework, where work-ers search on...
We develop an equilibrium model of on-the-job search with ex-ante heterogeneous workers and firms, a...
We develop an empirical search-matching model which is suitable for analyzing the wage, employment a...
Macroeconomic models of the economy with rigid wage structures tend to predict unrealistically volat...