Publications
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
With Michèle Belot, Bart de Koning, Didier Fouarge, Paul Muller and Sandra Phlippen. In a large-scale field experiment we study the impact of online information about alternative occupations for unemployed job seekers who are looking for work in occupations in very few vacancies per job seeker. Initial survey evidence suggests that job seekers have a poor understanding of their chances in alternative occupations, and the effects of our suggestions are large: their employment, hours of work and labor income all improve by 5\% to 6\% after 18 months. Go to paper
Econometrica, 2019 87(4): 1081-1113. With J. Greenwood, C. 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
Publications
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
Publications
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
Publications
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
Publications
Do the Long-term Unemployed Benefit from Automated Occupational Advice during Online Job Search?
with Michèle Belot and Paul Muller, Economic Journal, 2026, Vol 136, 184–206. In a randomized field experiment, we provide personalized suggestions about suitable alternative occupations to long-term unemployed job seekers in the UK. Effects on the primary pre-registered outcomes of "finding a stable job" and "reaching a cumulative earnings threshold" are positive and large (between 20% to 40% after 9 months). Go to paper
Publications
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
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
Publications
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
Publications
With Michèle Belot and Paul Muller. American Economic Journal: Microeconomics, 2025, 17 (1): 130–170. 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 Max Bres and David Koll (LIDAM discussion paper 2014/19). This paper provides causal evidence on the impact of subsidy re-allocation, exploiting European-level policy changes in France. In response to more laisser-faire, policy makers re-allocate subsidies away from research and development to mainly low-skilled manufacturing and service sectors, triggering persistent improvement of employment, mainly through increased low-skilled manufacturing employment and at the expense of R&D related occupations. In the long term, though, labor income and productivity decrease. Go to paper