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Main Research Agenda

Research Papers


Journal of Economic Literature, 2021 59(1): 90-148. With R. Wright,B. Julien, and V. Guerrieri. This survey presents a comprehensive overview of the directed/competitive search literature. Go to paper

Economic Journal, 2021 131: 713-744. With EricsonSpinnewijn &, Starc Demand for insurance can be driven by high risk aversion or high risk, and we show how to separate the two using observed market shares. Go to paper

Review of Economic Studies, 2019 86(4): 1411-1447.  With Michèle Belot and Paul Muller. We develop and evaluate experimentally a novel tool that redesigns the job search process by providing tailored online advice about related occupations. Go to paper

Econometrica, 2019 87(4): 1081-1113. With J. GreenwoodC. Santos and M. Tertilt A calibrated equilibrium search model of an HIV/AIDS epidemic is developed to analyze the direct impact and the behavioral adjustment to policies. Go to paper

Econometrica. 2018 86(1): 85-132. With Jan Eeckhout. When heterogeneous firms can choose both how many and which workers to hire, we illustrate consequences for firm-size and wage inequality. Note a correction for the condition with capital: corrigendum. Go to paper

American Economic Review P&P, 2017, 107(5): 158–162 With J. GreenwoodC. Santos & M. Tertilt. In a quantitative equilibrium model of sexual behavior and HIV/AIDS transmission we study policies that encourage long-term partnerships. Go to paper

Journal of Political Economy, 2017, 124(1), 224-264. With G. Grossman & E. Helpman. (simulationsmatlab). We introduce two-sided heterogeneity into a Hecksher-Ohlin-style trade model to study factor reallocation and wage inequality within and across sectors. Go to paper

Econometrica, 2015, Vol 83 (5), 1849-1875. With K. Kim. [online appendix] We introduce cheap-talk into a market game and study if the equilibrium can replicate the constraint efficient allocation under (reserve) price posting. Go to paper

American Economic Review, 2015, Vol 105 (10), 3030-3060. With Leo Kaas. We propose a tractable competitive search model with heterogeneous multi-worker firms, and investigate firm growth and business cycles. Go to paper

Review of Economic Studies, 2015, Vol 82 (2), 659-692. With Fane Groes and Iourii Manovskii. Occupational mobility is highest for high and low earners, and the former move “up” and the latter “down” as in models of vertical re-sorting. Go to paper

B.E. Journals of Theoretical Economics, 2013, Vol 13 (1). With S. Ludwig and A. Sandroni. We document a revealed preference for randomization for “social goods”, while such non-standard behavior is not present for private consumption goods. Go to paper

International Economic Review, 2012, Vol 53 (1), 1-21. With M. Galenianos. We study a finite directed-search wage posting game among heterogeneous firms (allowing for risk aversion, moral hazard,…), including limit theorems. Go to paper

Review of Economic Studies, 2011, Vol. 78 (3), 872-906. With Jan Eeckhout. Wage and employment data can identify the strength of sorting in search models, though two-sided fixed effects are always mis-specified. Go to paper

International Economic Review, 2011, 52(1), pp 85-104. With M. Galenianos and G. Virag. [technical appendix] In directed search with a finite population, minimum wages improve employment but reduce output and efficiency, and reverse for unemployment benefits. Go to paper

Econometrica, 2010, Vol. 78(2), 539–574. With Jan Eeckhout. In search models with price competition the sorting of heterogeneous buyers and sellers depends on complementarities both in output and in search. Go to paper

Journal of Economic Theory, 2010/145, 1354-1385. With Jan Eeckhout. Search affects competing mechanisms: if meetings with low types reduce those of high types, price posting and market separation replace auctions. Go to paper

Journal of Political Economy, 2009, Vol. 117(5), pp. 861- 913. In a directed search where workers apply for multiple jobs and are then allocated via a stable matching, efficiency arises at all stages. Go to paper

Journal of Economic Theory, 2009, 114(2), pp. 445-471. With Manolis Galenianos. We study wage dispersion and (in)efficiency in directed search when workers can strategically apply for multiple jobs but firms can only make one offer. Go to paper

Journal of Monetary Economics, 2008, Vol. 55, pp. 1054-1066. With M. Galenianos. We characterize price dispersion and welfare in a monetary model with private information: inflation is regressive even though the rich hold more money. Go to paper

Quarterly Journal of Economics, 2008/123(2), pp. 621-661. With A. Postlewaite. [technical appendix] In a model of social learning, the better informed (wealthier) consumers get preferential service because their consumption signals high quality to others. Go to paper

Working papers

With Michèle Belot and Paul Muller. We propose a simple method to elicit time preferences at the individual level even when income and consumption varies over time. We validate the method and apply it to correlate individuals' impatience with job search behavior and success. Go to paper

joint with L.Brotherhood, C. Santos and M. Tertilt This paper explores policies in epidemiological model of Covid-19 where individual's of different age (and associated risk) make private social distancing decisions. Social distancing especially by the old is substantial, and the optimal social planner restricts the young more to provide some slack for the old. Costs of this is much lower when there is also testing. Go to paper

Aug. 2018 With Michèle Belot and Paul Muller. We develop and evaluate experimentally a novel tool that redesigns the job search process by providing tailored online advice about related occupations. Go to paper