 | Professor of Economics, University of Chicago Verified email at uchicago.edu Cited by 5548 |
R Shimer - American economic review, 2005 - JSTOR
This paper argues that the textbook search and matching model cannot generate the
observed business-cycle-frequency fluctuations in unemployment and job vacancies in
response to shocks of a plausible magnitude. In the United States, the standard deviation ...
D Acemoglu… - 1998 - nber.org
This paper constructs a tractable general equilibrium model of search with risk-aversion. An
increase in risk-aversion reduces wages, unemployment, and investment. Unemployment
insurance (UI) has the reverse effect due to market generated moral hazard: insured ...
R Rogerson,
R Shimer… - Journal of Economic …, 2005 - ingentaconnect.com
Abstract: We survey the literature on search-theoretic models of the labor market. We show
how this approach addresses many issues, including the following: Why do workers
sometimes choose to remain unemployed? What determines the lengths of employment ...
R Shimer… - Econometrica, 2000 - Wiley Online Library
In Becker's (1973) neoclassical marriage market model, matching is positively assortaive if
types are complements: ie, match output f (x, y) is supermodular in x and y. We reprise this
famous result assuming time-intensive partner search and transferable output. We prove ...
This paper uses readily accessible data to measure the probability that an employed worker
becomes unemployed and the probability that an unemployed worker finds a job, the ins
and outs of unemployment. Since 1948, the job finding probability has accounted for three ...
D Acemoglu… - European Economic Review, 2000 - Elsevier
This paper argues that unemployment insurance increases labor productivity by
encouraging workers to seek higher productivity jobs, and by encouraging firms to create
those jobs. We use a quantitative model to investigate whether this effect is comparable in ...
D Acemoglu… - International Economic Review, 1999 - Wiley Online Library
2. Abstract A natural holdup problem arises in a market with search frictions: Firms have to
make a range of investments before finding their employees, and larger investments
translate into higher wages. In particular, when wages are determined by ex post ...
D Acemoglu… - The Review of Economic …, 2000 - restud.oxfordjournals.org
Abstract This paper explains why firms with identical opportunities may use different
technologies and offer different wages. Our key assumption is that workers must engage in
costly search in order to gather information about jobs (Stigler (1961)). In equilibrium, ...
R Shimer - Journal of Political Economy, 2005 - JSTOR
This paper studies the assignment of heterogeneous workers to heterogeneous jobs. Owing
to the anonymity of a large labor market, workers use mixed strategies when applying for
jobs. This randomness generates coordination frictions. Two workers may apply for a ...
R Shimer - The Quarterly Journal of Economics, 2001 - qje.oxfordjournals.org
Abstract An increase in the share of youth in the working age population of one state or
region relative to the rest of the United States causes a sharp reduction in that state's relative
unemployment rate and a modest increase in its labor force participation rate. This is ...
In a well-known paper in one of the inaugural issues of theBrookings Papers, Robert Hall
posed the question," Why is the Unemployment Rate So High at Full Employment?"(Hall,
1970). Hall, writing in the context of the 3.5% unemployment rate that prevailed in 1969, ...
R Shimer - Journal of the European Economic Association, 2004 - Wiley Online Library
Abstract The standard theory of equilibrium unemployment, the Mortensen—Pissarides
search and matching model, cannot explain the magnitude of the business cycle fluctuations
in two of its central elements, unemployment and vacancies. Modifying the model to make ...
[CITATION] Contracts in a frictional labor market
KG Abraham… - 2001 - nber.org
This paper accounts for the observed increase in unemployment duration relative to the
unemployment rate in the US over the past thirty years, typified by the record low level of
short-term unemployment. We show that part of the increase is due to changes in how ...
R Shimer - European Economic Review, 2006 - Elsevier
This paper studies wage bargaining in a simple economy in which both employed and
unemployed workers search for better jobs. The axiomatic Nash bargaining solution and
standard strategic bargaining solutions are inapplicable because the set of feasible ...
R Shimer - REVIEW-FEDERAL RESERVE BANK OF SAINT …, 2005 - unina.stidue.net
Abstract This paper uses readily accessible data on unemployment duration to measure the
rate at which unemployed workers are hired and the rate at which they involuntarily separate
from their job. In the United States, the hiring rate is strongly procyclical and the separation ...
We study the optimal design of unemployment insurance for workers sampling job
opportunities over time. We focus on the timing of benefits and the desirability of allowing
workers to freely access a riskless asset. When workers have constant absolute risk ...
This paper argues that a broad class of search models cannot generate the observed
business-cycle-frequency fluctuations in unemployment and job vacancies in response to
shocks of a plausible magnitude. In the US, the vacancy-unemployment ratio is 20 times ...
V Guerrieri,
R Shimer… - Econometrica, 2010 - Wiley Online Library
We study economies with adverse selection, plus the frictions in competitive search theory.
With competitive search, principals post terms of trade (contracts), then agents choose
where to apply, and they match bilaterally. Search allows us to analyze the effects of ...
We survey search-theoretic models of the labor market and discuss their usefulness for
analyzing labor market dynamics, job turnover, and wages. We first examine single-agent
models, showing how they can incorporate many interesting features and generate rich ...
This paper studies the assignment of heterogeneous workers to heterogeneous jobs in the
presence of coordination frictions. Firms offer human-capital-contingent wages, workers
observe these and apply for a job. In a symmetric equilibrium, identical workers use ...
R Shimer… - The Quarterly Journal of Economics, 2007 - qje.oxfordjournals.org
Abstract This paper argues that a risk-averse worker's after-tax reservation wage encodes all
the relevant information about her welfare. This insight leads to a novel test for the optimality
of unemployment insurance based on the responsiveness of reservation wages to ...
R Shimer… - Advances in Macroeconomics, 2001 - degruyter.com
This paper explores the efficiency of decentralized search behavior and matching patterns in
a model with ex ante heterogeneity and a constant returns to scale search technology. We
show that a linear tax or subsidy on search intensity decentralizes the social optimum. In ...
F Alvarez… - 2008 - nber.org
This paper extends Lucas and Prescott's (1974) search model to develop a notion of rest
unemployment. The economy consists of a continuum of labor markets, each of which
produces a heterogeneous good. There is a constant returns to scale production ...
R Rogerson… - Handbook of Labor Economics, 2011 - Elsevier
Abstract This chapter assesses how models with search frictions have shaped our
understanding of aggregate labor market outcomes in two contexts: business cycle
fluctuations and long-run (trend) changes. We first consolidate data on aggregate labor ...
Abstract This paper explores the behavior of a model economy with search frictions and
bilateral asymmetric information. Firms commit to employment contracts in an effort to attract
workers. When a worker and firm meet, the worker must decide whether to supply effort to ...
R Shimer - The American Economic Review, 2008 - JSTOR
" Unemployment is high in a recession because jobs are hard to find, not because more job-
seek? ers have been dumped into the labor market by elevated separation rates." Shimer
(2007) shows that movements in the job finding probability account for three-quarters of ...
R Shimer… - University of Chicago and University of Michigan …, 2001 - uchicago.edu
Abstract This paper explores optimal matching policies in constant returns to scale search
economies with heterogeneous agents. We look for a policy that maximizes the present
value of output in the economy, taking the search frictions as given. Our main result is that ...
R Shimer - Princeton University manuscript, 1999 - Citeseer
Abstract This paper proposes job auctions as a theory of wage determination in models of
labor markets with search frictions. Workers apply for jobs by bidding in auctions, and firms
reward the job to the applicant who offers it the most profit. In equilibrium, more productive ...
This paper studies the optimal timing of unemployment insurance subsidies in a McCall
search model. Risk-averse workers sequentially sample random job opportunities. Our
model distinguishes unemployment subsidies from consumption during unemployment by ...
E Ebrahimy… - Journal of Economic Theory, 2010 - Elsevier
We develop the implications of the stock–flow matching model for unemployment,
vacancies, and worker flows. Workers and jobs are heterogeneous, so most worker–job
pairs cannot profitably match, leading to the coexistence of unemployment and vacancies. ...
R Shimer - SED meeting, Paris, 2003 - uchicago.edu
Recent papers have argued that standard theories of the labor market, eg the Mortensen
and Pissarides (1994) matching model, cannot generate significant movements in
unemployment and vacancies in response to shocks of a plausible magnitude (Hall 2003, ...
R Shimer - Department of Economics, University of Chicago, …, 2010 - nber.org
Abstract This paper explores how real wage rigidities can generate jobless recoveries.
Suppose that after a transitory shock, the capital stock lies below trend. If wages are flexible,
they decline as the economy grows back to trend. If wages are completely rigid and the ...
R Shimer… - University of Chicago mimeo, 2003 - uchicago.edu
Unemployment insurance is an asset that protects workers against the risk of failing to find a
job. Its provision is limited by an important moral hazard problem: workers who are protected
against unemployment risk remain unemployed for longer. A growing theoretical literature ...
[CITATION] Valuing the Unique: The Economics of Singularities
L Karpik… - 2010 - Princeton Univ Pr
U vrijeme recesija i kriza kretanja na tržištu rada dobivaju posebno značenje u svijetu
ekonomskih istraživanja. Ni ova posljednja kriza, kako u svijetu, tako iu Hrvatskoj, nije bila
iznimka1. No, kretanje zaposlenosti i nezaposlenosti tijekom uspona i padova ...
D Acemoglu… - Working papers, 1997 - ideas.repec.org
In market economies, identical workers receive very different wages, violating the
Walrasian'law of one price'. We argue that in the absence of a Walrasian auctioneer to
coordinate trade, wage dispersion among identical workers is an equilibriu m ...
F Alvarez… - Econometrica, 2011 - Wiley Online Library
This paper develops a tractable version of the Lucas and Prescott (1974) search model.
Each of a continuum of industries produces a heterogeneous good using a production
technology that is continually hit by idiosyncratic shocks. In response to adverse shocks, ...
[CITATION] On-the-Job Search, Bargaining, and Wage Dispersion
R Shimer - University of Chicago mimeo, 2004
R Shimer - University of Chicago (mimeo), 2003 - uchicago.edu
There appears to be some confusion as to the nature of the Nash bargaining solution in
models with on-the-job search. 1 Nash posited four axioms that a bargaining solution should
have. Applying those axioms to a bilateral bargaining problem between a worker and a ...
R Shimer - forthcoming American Economic Review, 2003 - artsci.wustl.edu
Notes: The vu ratio is constructed by the BLS from the CPS and by the Conference Board.
The job-finding rate is constructed using equation (1) and BLS data from the CPS. Both are
quarterly averages of seasonally adjusted monthly series and are expressed as ...
R Shimer - unpublished article, 2002 - Citeseer
Abstract This paper develops three facts about the cyclical behavior of the labor market in
the US and explores whether existing models are consistent with those facts. I find that a
standard model of search unemployment with wage bargaining either counterfactually ...
F Alvarez… - University of Chicago, mimeo, 2009 - asb.unsw.edu.au
The paper explores the interaction between sector-specific human capital accumulation and
sector-specific productivity or demand shocks. Our objective is to better understand the
determinants of skill and experience premia, the costs of displacement for workers with ...
[CITATION] E cient Wage Dispersion.'
D Acemoglu… - 1997 - Mimeo, MIT
R Shimer - University of Chicago, manuscript, 2003 - econ.uqam.ca
A sequence of recent papers (Costain and Reiter 2003, Hall 2003a, Shimer 2003) has
argued that the standard theory of equilibrium unemployment, the Mortensen-Pissarides
search and matching model (Mortensen and Pissarides 1994, Pissarides 2000) cannot ...
[CITATION] Do good guys come in first? How wage determination affects the ranking of job applicants
R Shimer - Manuscript, Princeton University, 1997
V Guerrieri… - 2012 - nber.org
We develop a dynamic equilibrium model of asset markets affected by adverse selection.
There exists a unique equilibrium where better assets trade at higher prices but in less liquid
markets. Sellers of high-quality assets can separate because they are more willing to ...
[CITATION] Do good guys come in first? Wage determination and the ranking of job applicants
R Shimer - 1995 - Mimeo, MIT
[CITATION] The Assignment of Workers to Jobs In an Economy with Coordination Frictions, October 2001
R Shimer - National Bureau of Economic Research Working Paper, 2001
[CITATION] Reassessing the Ins and Outs of Unemployment
S Robert - University of Chicago, mimeo, 2007
[CITATION] Do nice guys finish last
R Shimer - 1996 - mimeo, MIT
A flurry of recent research explores why unemployment is so volatile at business cycle
frequencies, typically assuming that labor force participation is constant, so volatility of
unemployment is simply the converse of volatility of employment. But in reality workers ...
R Shimer - Manuscript, Dept. Econ., Univ. Chicago, 2003 - uchicago.edu
Unemployment is a pervasive feature of market economies. Search and matching frictions
are commonly invoked in order to explain why there is unemployment (Lucas and Prescott
1974, Pissarides 1985). The question of why there are search and matching frictions, ...
[CITATION] oThe Cyclical Behavior of Unemployment and Vacancies: Evidence and Theory, p
R Shimer - NGSKECO 2EPOPNKE= GWKGX, 2005
V Guerreri… - 2011 - faculty.chicagobooth.edu
Abstract We develop a theory of equilibrium in asset markets with adverse selection. Traders
can buy and sell an asset at any price. Sellers recognize that their trades may be rationed if
they ask for a high price, while buyers recognize that they can only get a high quality good ...
[CITATION] Microfoundations of the optimal speed of transition
R Shimer - 1995 - mimeo, Massachusetts Institute of …
[CITATION] Labor markets and business cycles
Robert. Shimer - Princeton University Press
[CITATION] Wage Inequality and Unemployment over the Business Cycle
R Shimer - 1997 - Mimeo, Princeton University
[CITATION] iContracts in frictional labor market, jmimeo
R Shimer - Princeton University, 1996
[CITATION] The Labor Market in the Great Recession: Comment
R Shimer - Brookings Papers on Economic Activity, 2010
R Shimer - The Journal of Economic Perspectives, 2007 - JSTOR
D aron Acemoglu, winner of the 2005 John Bates Clark Medal, uses theoretical and
empirical analysis to tackle critical issues in a variety of fields in economics, including labor
economics, macroeconomics, and political economy. His unparalleled combination of ...
[CITATION] Do Good Guys Come in First?"
R Shimer - 1995 - mimeo MIT, Department. of …
R Shimer - NBER Macroeconomics Annual, 2008 - JSTOR
This is an ambitious paper. It documents a novel set of facts about the nature of labor market
expansions during the last 15–20 years in the United States, and it develops a significant
extension to the Burdett and Mortensen (1998) model to explain them. I am not going to ...
[CITATION] jContracts in Frictional Labor Marketsk, 1996
R Shimer - MIT, mimeo
[CITATION] mThe Cyclical Behavior of Equilibrium Unemployment, Va& cancies, and Wages: Evidence and Theoryn
R Shimer - American Economic Review, 2005
[CITATION] 2oo5. The Cyclical Behavior of Equilibrium Unemployment and Vacancies
R Shimer - American Economic Review
[CITATION] VChanges in Un'employment Duration and Labor Force Attachment
KG Abraham… - 2001 - V NBER working paper 8513
[CITATION] The cyclical behavior of equilibrium unemployment and wages: Evidence and theory'
R Shimer - 2002 - NBER Working Papers (9536)
R Rogerson… - Handbook of Labor Economics, 2011 - economics.uchicago.edu
In the last two decades, search theoretic models of the labor market have become the
dominant approach to understanding the existence of unemployment. Search models have
one undeniable appeal: they give a concrete notion of unemployment which conforms ...
[CITATION] forthcoming.“Search in Macroeconomic Models of the Labor Market.”
R Rogerson… - Handbook of Labor Economics
[CITATION] jCompetitive Search Equilibrium with Asymmetric In $ formationk
R Shimer… - 2004
[CITATION] Reassessing the Ins and Outs of Unemployment.” ht tp
R Shimer - home. uchicago. edu/~ shimer/wp/reassess. pdf, 2005
R Shimer - NBER Macroeconomics Annual, 2004 - JSTOR
This is an ambitious paper. The authors extend the standard real business-cycle model in
two directions. First, they allow for both market production and home production, as in
Benhabib, Rogerson, and Wright (1991). Second, they allow for overlapping generations ...
[CITATION] Forthcoming." Why Is the US Unemployment Rate So Much Lower?"
R Shimer - NBER Macroeconomics Annual, 1998
F Alvarez… - University of Chicago mimeo, 2009 - uchicago.edu
Abstract This paper examines the impact of unions on unemployment and wages in a
dynamic equilibrium search model. We model a union as imposing a minimum wage and
rationing jobs to ensure that the union's most senior members are employed. This ...
R Shimer - Review of Economics and Statistics, 2005 - MIT Press
THIS paper is an important contribution to the emerging view that labor market rigidities
amplify employment and output fluctuations by reducing firms' incentives to create job
vacancies when labor market conditions are slack. In it, Robert Hall makes three main ...
F Alvarez… - 2008 - faculty.chicagobooth.edu
Abstract This paper examines the impact of unions on unemployment and wages in a
dynamic equilibrium search model. Unions impose a minimum wage on employers and
ration jobs to ensure that their most senior members are employed. A minimum wage ...
R Shimer - Journal of Monetary Economics, 2008 - econpapers.repec.org
... Please update your bookmarks. Comment on: "New Keynesian perspectives on labor market
dynamics" by Tommy Sveen and Lutz Weinke. Robert Shimer (). Journal of Monetary Economics,
2008, vol. 55, issue 5, pages 931-935. Date: 2008 Track citations by RSS feed. ...
[CITATION] How to Build a More Profitable Wills and Estates Practice: A Complete Working Kit
JB Aker… - 1968 - Executive Reports Corporation
This paper asks why employed workers sometimes switch jobs. Existing theories typically
argue that employed workers move to better jobs when such jobs are available. The ease of
changing jobs has significant implications for the role of unemployment in reallocating ...
R Shimer - 2004 Meeting Papers, 2004 - ideas.repec.org
This paper explores wage-setting in the presence of asymmetric information. Firms know
their own productivity, while workers only know the distribution of productivity in the
economy. Although there is unemployment in equilibrium, the labor market is competitive ...
D Acemoglu… - 1997 - cepr.org
In market economies identical workers appear to receive very different wages, violating the
'law of one price'of Walrasian markets. It is argued in this paper that in the absence of a
Walrasian auctioneer to coordinate trade:(i) wage dispersion among identical workers is ...
R Shimer - 2006 Meeting Papers, 2006 - nber.org
Abstract This paper explores the ability of the stock-flow matching model to generate realistic
business cycle frequency fluctuations in unemployment, job vacancies, and labor flows. The
model's behavior is very similar to that in Shimer (2006) and fits the data significantly ...
A Daron, S Robert - ukpmc.ac.uk
This paper constructs a tractable general equilibrium model of search with risk-aversion. An
increase in risk-aversion reduces wages, unemployment and investment.
Unemploymentinsurance (UI) has the opposite e# ect: insured workers seek high wage ...
R Shimer… - Brookings Papers on Economic Activity, 2001 - JSTOR
Robert Shimer: George Borjas has written an ambitious paper, presenting some new
empirical findings and developing a framework for quantifying the efficiency gains from
immigration. The paper begins by documenting that immigrants tend to move to states ...
R Shimer - EconomicDynamics Newsletter, 2002 - econpapers.repec.org
... Please update your bookmarks. The Research Agenda: Labor Market Frictions and Business
Cycles. Robert Shimer (). EconomicDynamics Newsletter, 2002, vol. 4, issue 1. Abstract: Robert
Shimer is associate professor of Economics at Princeton University. ...
JB Aker… - 1977 - getcited.org
An academic directory and search engine.
R Shimer - The Journal of Political Economy, 1999 - porter.ssc.upenn.edu
This paper constructs a tractable general equilibrium model of search with risk aversion. An
increase in risk aversion reduces wages, unemployment, and investment. Unemployment
insurance has the opposite effect: insured workers seek high-wage jobs with high ...
This is an ambitious paper. It documents a novel set of facts about the nature of labor market
expansions during the last 15–20 years in the United States, and it develops a significant
extension to the Burdett and Mortensen (1998) model to explain them. I am not going to ...
Abstract This paper studies the interaction between wage and price rigidities, with particular
attention to the size of the government consumption multiplier. I confirm that in a simple
model with price rigidities and no capital, the government consumption multiplier can ...
[CITATION] Yarway: A Story of Corporate Renewal in Celebration of the 75th Anniversary of Yarway Corporation, 1908-1983
WR Shimer - 1983 - Yarway Corporation
[CITATION] Understanding Unemployment
R Shimer - Annual Review of Economics, 2012 - … Reviews 4139 El Camino Way, PO …
CF TRADING, VJ FIRTH… - cftc.gov
Page 1. Robert W. Shimer 414 Allendale Way Camp Hill, PA 17011 (610) 223-4530
UNITED STATES DISTRICT COURT FOR THE DISTRICT OF NEW JERSEY -----
COMMODITY FUTURES TRADING : COMMISSION, : : Hon. ...
V Guerrieri,
R Shimer… - 2008 - nber.org
This paper studies the interaction between a large number of uninformed principals and a
large number of informed agents in a market. Principals compete for agents by posting
contracts at some cost. Agents observe the posted contracts and try to obtain one of them. ...
[CITATION] Yarway: A Story of Corporate Renewal
WR Shimer - 1983 - Yarway Corporation
Abstract This paper explores the joint implications of two assumptions in a business cycle
model: the key shock is reallocational, rendering some of the capital stock unproductive
while not affecting the remainder; and wages are rigid and do not respond to the shock. In ...
JB Aker… - 1982 - getcited.org
An academic directory and search engine.
[CITATION] Product differentiation theory with implications for international trade
R Shimer - 1992 - Oxford University
Abstract This paper develops a dynamic competitive model of mismatch. Workers and jobs
are randomly assigned to labor markets. Each labor market clears at each instant but some
labor markets have more workers than jobs, hence unemployment, and some have more ...
Create email alert
About Google Scholar - All About Google - My Citations
©2012 Google