- Economics - Research Publications
Economics - Research Publications
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ItemEx post bidding and efficient coordination unemploymentJulien, B ; Kennes, J ; King, I (WILEY, 2005-02)Abstract. We study the implementation of constrained‐efficient allocations in labour markets where a basic coordination problem leads to an equilibrium matching friction. We argue that these allocations can be achieved in a non‐cooperative equilibrium if wages are determined by ex post bidding. This holds true even in finite‐sized markets where the equilibrium‐matching process has decreasing returns to scale – where the ‘Hosios rule’ does not apply – both with and without heterogeneity. JEL classification: D83, J64
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ItemDirected Search, Unemployment and Public PolicyJulien, ; Kennes, ; KING, I ; MANGIN, S ( 2009)