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Efficiency in a Search and Matching Model with Endogenous Participation

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Author Info
James Albrecht () (Department of Economics, Georgetown University, Washington, DC 20057, USA, and IZA, Bonn, Germany)
Lucas Navarro () (ILADES-Georgetown University, Universidad Alberto Hurtado)
Susan Vroman () (Department of Economics, Georgetown University, Washington, DC 20057, USA, and IZA, Bonn, Germany)

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Abstract

We show that in a search/matching model with endogenous participation in which workers are heterogeneous with respect to market productivity, satisfying the Hosios rule leads to excessive vacancy creation. The reason is that the marginal worker does not internalize the effect of his or her participation on average productivity.

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Publisher Info
Paper provided by Ilades-Georgetown University, School of Economics and Bussines in its series ILADES-Georgetown University Working Papers with number inv218.

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Length: 5 pages
Date of creation: Feb 2009
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Handle: RePEc:ila:ilades:inv218

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Related research
Keywords: search; matching; participation; Hosios rule; efficiency;

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Find related papers by JEL classification:
D3 - Microeconomics - - Distribution
J6 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies

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This page was last updated on 2009-11-8.

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