Models of Wages and Mobility in Frictional Labor Markets with Random Search

Rasmus Lentz*

*Corresponding author for this work

Research output: Contribution to journal/Conference contribution in journal/Contribution to newspaperJournal articleResearchpeer-review

Abstract

I survey frictional labor market models of equilibrium wage determination and mobility. Search is random. Competition between firms is in terms of value promises to workers. The exact nature of the competition dictates the distribution of value promises in the economy. Worker mobility and allocation to jobs are often understood directly from this part of the model. The survey details how employment contract design restrictions map contract values into wages.

Original languageEnglish
JournalRevue Economique
Volume51
Issue1
Pages (from-to)113-145
Number of pages33
ISSN0035-2764
DOIs
Publication statusPublished - Feb 2024

Keywords

  • employment and job mobility
  • employment contracts
  • labor market friction
  • wage determination

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