G Moscarini - Econometrica, 2005 - Wiley Online Library
This paper brings together the microeconomic-labor and the macroeconomic-equilibrium
views of matching in labor markets. We nest a job matching model à la Jovanovic (1984) into
a Mortensen and Pissarides (1994)-type equilibrium search environment. The resulting ...
G Moscarini - Journal of Economic Dynamics and Control, 2004 - Elsevier
We derive optimal time-dependent adjustment rules from Shannon's (1948) Information
Theory. In a continuous-time LQ prediction problem with a costly rate of information
acquisition-processing, the optimal prediction evolves smoothly, but jumps at an optimally ...
G Moscarini… - Econometrica, 2001 - Wiley Online Library
Consider Wald's classical (1947) Bayesian formulation of sequential analysis. A given
decision maker () is uncertain about a payoff relevant state of the world, and before deciding,
can buy multiple iid informative signals at constant marginal cost. The should then ...
H Fang, G Moscarini - Journal of Monetary Economics, 2005 - Elsevier
We interpret workers' confidence in their own skills as their morale, and investigate the
implication of worker overconfidence on the firm's optimal wage-setting policies. In our
model, wage contracts both provide incentives and affect worker morale, by revealing ...
G Moscarini - The Review of Economic Studies, 2001 - restud.oxfordjournals.org
Abstract Workers face a trade-off between macroeconomic and individual incentives to work
in different occupations/industries; namely, between search frictions and personal
comparative advantages. Workers endowed with heterogeneous multi-dimensional skills ...
G Moscarini… - The Scandinavian Journal of …, 2007 - Wiley Online Library
We propose a new methodology to measure worker mobility across occupations and jobs in
the US, building on the limited longitudinal dimension of monthly CPS data. For the period
1979–2006, we find that about 3.5% of male workers employed in two consecutive months ...
G Moscarini… - Journal of Economic Theory, 2001 - Elsevier
This paper investigates price competition with private information on the demand side. Two
sellers each offer a different variety of a good to a buyer endowed with a private binary
signal on their relative quality. The model provides an informational foundation to ...
G Moscarini,
M Ottaviani… - Economic Theory, 1998 - Springer
Summary. In the social learning model of Banerjee [1] and Bikhchandani, Hirshleifer and
Welch [2] individuals take actions sequentially after observing the history of actions taken by
the predecessors and an informative private signal. If the state of the world is changing ...
Abstract: A longstanding unresolved problem in Bayesian economics is how to value and
price information. This paper resolves both problems for the case of inexpensive information.
We build on Chernoff's (1952) asymptotic efficiency of simple hypothesis tests to produce ...
G Moscarini… - 2003 - papers.ssrn.com
Abstract: We investigate the evolution and the sources of aggregate employment
reallocation in the United States in the 1971-2000 March files of the Current Population
Survey. We focus on the annual flows of male workers across occupations at the Census 3 ...
B Brugemann, G Moscarini - Review of Economic Dynamics, 2010 - Elsevier
Two thirds of US unemployment volatility is due to fluctuations in workers' job-finding rate. In
search and matching models, aggregate productivity shocks generate such fluctuations: via
inputs in the matching technology, they affect the rate at which workers and firms come ...
G Moscarini… - 2009 - nber.org
We provide new evidence that large firms or establishments are more sensitive than small
ones to business cycle conditions. Larger employers shed proportionally more jobs in
recessions and create more of their new jobs late in expansions, both in gross and net ...
G Moscarini - The American Economic Review, 2007 - JSTOR
The (reputation for) competence of a central bank at doing its job makes monetary policy
under discretion credible and transparent. Based on its reading of the state of the economy,
the central bank announces its policy intentions to the public in a cheap-talk game. The ...
G Moscarini… - 2008 - nber.org
Do workers sort more randomly across different job types when jobs are harder to find? To
answer this question, we study the mobility of male workers among three-digit occupations
in the matched files of the monthly Current Population Survey over the 1979-2004 period. ...
G Moscarini… - 2009 - nber.org
The cyclical behavior of (un) employment and wages still poses a formidable challenge to
macroeconomists. No other aspect of the business cycle has been as widely studied and
remains as poorly understood. While a consensus has slowly emerged on the importance ...
G Moscarini… - Yale University and University of Bristol …, 2009 - nber.org
Abstract We provides the first analysis of aggregate dynamics of a popular class of search
wage $ posting models (Burdett and Mortensen (1998), BM). We assume that firms offer and
commit to time $ dependent wage contracts. We show that, when all firms have the same ...
G Moscarini… - Cowles Foundation Discussion Paper …, 2004 - papers.ssrn.com
Abstract: We study a winner-take-all R&D race where firms are privately informed about the
uncertain arrival rate of the invention. Due to the interdependent-value nature of the
problem, the equilibrium displays a strong herding effect that distinguishes our framework ...
J Keppo, G Moscarini… - Journal of Economic Theory, 2008 - Elsevier
This paper produces a theory of value for Gaussian information with two states and two
actions, tracing the solution of the option pricing formula, but for the process of beliefs. We
derive explicit formulas for the value of information. The marginal value is convex and ...
G Moscarini - 2004 Meeting Papers, 2004 - econ.yale.edu
Abstract This paper presents an analysis of moral hazard in On $ the $ Job Search (OJS) in
an equilibrium setting. In a frictional labor market, when an employee receives an outside
offer, her employer is naturally tempted to compete against it to save the cost of hiring a ...
G Moscarini… - 2010 - iza.org
Abstract We study a stochastic economy where both employed and unemployed workers
search randomly for labor contracts posted by firms, while aggregate productivity is subject
to persistent shocks. Our exercise provides the first dynamic stochastic general ...
G Moscarini… - Yale University, 2003 - aida.econ.yale.edu
Abstract We estimate an empirical model of individual occupational mobility over the period
1984 to 1992 for a sample of youth from the NLSY79. We define occupational mobility at the
3-digit level, a finer disaggregation than typically employed, as we believe this more ...
H Fang, G Moscarini - Cowles Foundation Discussion Paper, 2002 - public.econ.duke.edu
Abstract Psychologists have consistently documented people's tendency to be overconfident
about their own ability. We interpret workers' confidence in their own skills as their morale,
and investigate the implication of worker overconfidence on the firm's optimal wage- ...
G Moscarini… - Macroeconomic Dynamics, 2007 - Cambridge Univ Press
Peter Diamond is one of the major contributors to economics during the last half century. His
many contributions include research on growth, Social Security, public finance more
generally, the economics of uncertainty, search theory, in particular, and economic ...
G Moscarini… - Journal of Economic Theory, 2010 - Elsevier
We study a winner-take-all R&D race between two firms that are privately informed about the
arrival rate of an invention. Over time, each firm only observes whether the opponent left the
race or not. The equilibrium displays a strong herding effect, that we call a 'survivor's curse ...
G Moscarini… - STUDIES IN RISK AND …, 1997 - kellogg.northwestern.edu
Abstract The theory of rational social learning studies how individual decision makers are
influenced by the actions taken by others when information is dispersed. We present and
discuss some models of Bayesian social learning which recently appeared in the ...
G Moscarini… - American Economic Review, 2010 - econ.yale.edu
In other work (Moscarini and Postel-Vinay, 2008, 2009a), we find a distinct cyclical pattern of
the relative performance of large and small businesses in terms of net job creation. Large
employers destroy proportionally more jobs during and right after recessions, and create ...
G Moscarini… - 2007 - aida.econ.yale.edu
Abstract We study equilibrium play and the design of optimal incentives in a two $ player
dynamic contest, with costly effort and one $ dimensional observed achievement. Our game
is a continuous version of Harris and Vickers (ReStud 1987) is tug $ of $ war. We derive ...
R Bachmann… - 2011 - rmm.economics.utoronto.ca
Abstract Recessions are times of increased uncertainty and volatility at both macro and
micro levels. This robust empirical pattern is typically interpreted as the result of luncertainty
shocksmwhich, propagated through various frictions, impact negatively on aggregate eco ...
G Moscarini - 1996 - en.scientificcommons.org
Publication View. 741815. Workers' heterogeneity and job search in the flow approach to labor
markets : a theoretical analysis (1996). Moscarini, Giuseppe. Abstract. Thesis (Ph. ... of Economics,
1996.. Includes bibliographical references (p. 133-137).. by Giuseppe Moscarini.. Ph.D ...
[CITATION] Worker Mobility and Aggregate Labor Reallocation: Evidence from the NLSY79
G Moscarini… - 2000 - mimeo Yale University and NYU
G Moscarini - 2003 - aida.econ.yale.edu
Abstract The credibility of monetary policy under discretion has been traditionally linked to
the Central Bank's conservatism. We show that another trait of the Central Bank (CB), her
competence at doing her job, or reputation thereof, can be just as important to make her ...
[CITATION] Worker Heterogeneity and Job Search in the Flow Approach to Labor Markets: a Theoretical Analysis", unpublished Ph. D
G Moscarini - 1996 - dissertation, Massachusetts Institute …
B Brügemann, G Moscarini - Yale University, August, 2005 - econ.yale.edu
Abstract Shimer (2005) showed that a standard search and matching model of the labor
market fails to generate fluctuations of unemployment and vacancies of the magnitude
observed in US data in response to shocks to average labor productivity of plausible ...
G Moscarini… - American Economic Review, …, 2011 - econ.yale.edu
Abstract We document a strong negative correlation, at business cycle frequencies, between
the net job creation rate of large firms or establishments and the level of aggregate
unemployment, much stronger than for small employers. After detrending, the differential ...
[CITATION] VThe Timing of Labor Market Expansions: New Facts and a New Hypothesis
G Moscarini… - V Manuscript, 2008
F Vella… - 2004 Meeting Papers, 2004 - ideas.repec.org
We investigate the evolution and the sources of aggregate employment reallocation in the
United States in the 1976-2000 March files of the Current Population Survey. We focus on
the annual flows of male workers across occupations at the Census 3-digit level, the finest ...
[CITATION] Self-Selection of Workers in Search Equilibrium
G Moscarini - 1997 - mimeo
G Moscarini - thekeep.org
Recent research and casual observation suggest that skill-biased technological
advancement and the sea of information provided by the Internet will have an important
effect on the market for labour. I suggest a framework with which to analyse these ...
RJ Caballero, G Moscarini - 1996 - dspace.mit.edu
Page 1. Page 2. Page 3. Page 4. Page 5. Page 6. Page 7. Page 8. Page 9. Page 10. Page 11.
Page 12. Page 13. Page 14. Page 15. Page 16. Page 17. Page 18. Page 19. Page 20. Page
21. Page 22. Page 23. Page 24. Page 25. Page 26. Page 27. Page 28. Page 29. Page 30. Page ...
G Moscarini - NBER Macroeconomics Annual, 1999 - JSTOR
Costain, J. (1997). Unemployment insurance in a general equilibrium model of job search and
precautionary saving. University of Chicago. Ph.D. Thesis. Di Tella, R., and R. MacCulloch.
(1999). The consequences of labor market flexi- bility: Panel evidence based on survey ...
D MORTENSEN, É NAGYPáL… - … journal of economics, 2007 - cadmus.eui.eu
Full-text contained in Cadmus is protected by copyright law and may be downloaded for
personal research purposes only. Any additional reproduction for other purposes, whether in
hard copy or electronically, requires the consent of the copyright holder (s).
RM Blank, JE Ligthart, J Cawley, Y Rubinstein… - Cambridge Univ Press
This section contains an index of current working papers by author-supplied keyword. The keyword
is followed by the name of the primary author. Long keywords have been truncated. A complete
bibliographic listing can be found by consulting the corresponding entry for the primary ...
In the social learning model of Banerjee [1] and Bikhchandani, Hirshleifer and Welch [2] individuals
take actions sequentially after observing the history of actions taken by the predecessors and
an informative private signal. If the state of the world is changing stochastically over time ...
G Moscarini… - 2009 - cepr.org
We provide new evidence that large firms or establishments are more sensitive than small
ones to business cycle conditions. Larger employers shed proportionally more jobs in
recessions and create more of their new jobs late in expansions, both in gross and net ...
BA Bruegemann, G Moscarini - Computer Codes, 2009 - econpapers.repec.org
Related works: Journal Article: Rent Rigidity, Asymmetric Information, and Volatility Bounds in
Labor (2010) This item may be available elsewhere in EconPapers: Search for items with the
same title. ... This site is part of RePEc and all the data displayed here is part of the ...
G Moscarini - Rivista di Politica Economica, 2005 - faronet.it
Perché lavoratori simili ricevono salari diversi? In questo sag- gio rivisito e confronto due linee
di ricerca che hanno compiuto notevoli progressi nella comprensione dei differenziali
salariali: (i) eterogeneità inosservata nel capitale umano ed autoselezione dei la- ...
[CITATION] Research Project Reputation for Competence, Reputation for Conservatism, and Transparency in Monetary Policy-Making
G Moscarini - 2002
G Moscarini… - nber.org
Abstract We document three new facts about aggregate dynamics in US labor markets over
the last 15 years, drawing in part from newly available datasets. These facts suggest a new
view of how business cycles evolve and mature. We investigate whether this view is ...
G Moscarini… - 2006 - 128.36.236.74
Abstract We propose a new methodology to measure and to study worker mobility across
occupations and jobs in US Census data at the monthly frequency. Our approach builds on
two main ideas. First, we use the longitudinal dimension of matched monthly CPS files to ...
G Moscarini… - 1998 - Citeseer
Abstract The paper revisits Wald's (1947) sequential experimentation paradigm, now
assuming that an impatient decision maker can run variable-size experiments each period at
some increasing and strictly conver cost before finally choosing an irreversible action. We ...
G Moscarini… - Journal of Economic Theory, 2010 - Elsevier
Journal of Economic Theory 145 (2010) 1319–1324 www.elsevier.com/locate/jet Introduction
to Search Theory and Applications ✩ Giuseppe Moscarini a,c,∗ , Randall Wright b,ca Yale
University, PO Box 208268, New Haven, CT 06520-8268, USA b University of Wisconsin– ...
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