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宏观经济学Workshop:Partially Directed Search in the Labor Market
发布日期：2020-12-17 12:00 来源：
Title: Partially Directed Search in the Labor Market
Speaker：Liangjie Wu
Abstract：I study the labor market implications of limited information inherent in the job search process. Workers pay a cost to direct job search that is proportional to the difference between the chosen search strategy and a benchmark random search strategy. With this cost, workers apply to every job with a positive probability, but apply to high-payoff jobs with higher probabilities. In a wage posting model with partially directed search, employers have monopsony power: firms extract a markdown due to the cost of directing search. Efficiency of the market equilibrium depends on whether the markdowns are equally distributed across firms. Inefficiency arises when search is partially directed, which has new implications on policy remedies to monopsony.
Paper Download：//www.liangjiewu.com/files/ecta-pds-final.pdf
About the speaker：Liangjie Wu is an Assistant Professor at Einaudi Institute for Economics and Finance. He received his PhD in Economics from the University of Chicago in June 2020. His research focuses on search theory and the study of market power.
时间：2020年12月17日 02:30 下午 北京，上海
加入 Zoom 会议地址
//zoom.com.cn/j/95492165716?pwd=WUVFZnBZSlg5YTZrWURuTWxPeklvQT09会议号：954 9216 5716
密码：284354
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大陆成人直播
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宏观经济学Workshop:Partially Directed Search in the Labor Market
发布日期：2020-12-17 12:00 来源：
Title: Partially Directed Search in the Labor Market
Speaker：Liangjie Wu
Abstract：I study the labor market implications of limited information inherent in the job search process. Workers pay a cost to direct job search that is proportional to the difference between the chosen search strategy and a benchmark random search strategy. With this cost, workers apply to every job with a positive probability, but apply to high-payoff jobs with higher probabilities. In a wage posting model with partially directed search, employers have monopsony power: firms extract a markdown due to the cost of directing search. Efficiency of the market equilibrium depends on whether the markdowns are equally distributed across firms. Inefficiency arises when search is partially directed, which has new implications on policy remedies to monopsony.
Paper Download：//www.liangjiewu.com/files/ecta-pds-final.pdf
About the speaker：Liangjie Wu is an Assistant Professor at Einaudi Institute for Economics and Finance. He received his PhD in Economics from the University of Chicago in June 2020. His research focuses on search theory and the study of market power.
时间：2020年12月17日 02:30 下午 北京，上海
加入 Zoom 会议地址
//zoom.com.cn/j/95492165716?pwd=WUVFZnBZSlg5YTZrWURuTWxPeklvQT09会议号：954 9216 5716
密码：284354
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