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Directed search with multiple job applications

Galenianos, Manolis and Kircher, Philipp (2009) Directed search with multiple job applications. Journal of Economic Theory, 144 (2). pp. 445-471. ISSN 1095-7235

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Identification Number: 10.1016/j.jet.2008.06.007

Abstract

We develop an equilibrium directed search model of the labor market where workers can simultaneously apply for multiple jobs. Our main theoretical contribution is to integrate the portfolio choice problem faced by workers into an equilibrium framework. All equilibria of our model exhibit wage dispersion. Consistent with stylized facts, the density of wages is decreasing and higher wage firms receive more applications per vacancy. Unlike most models of directed search, the equilibria are not constrained efficient.

Item Type: Article
Official URL: http://www.elsevier.com/wps/find/journaldescriptio...
Additional Information: Copyright © 2008 Elsevier B.V.
Subjects: H Social Sciences > HB Economic Theory
Sets: Departments > Economics
Collections > Economists Online
Date Deposited: 20 Oct 2010 08:31
Last Modified: 22 Oct 2010 11:33
URI: http://eprints.lse.ac.uk/id/eprint/29702

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