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	<title>The Review of Economic Studies</title>
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		<title>Incentives in Competitive Search Equilibrium</title>
		<link>http://www.restud.com/accepted-papers/incentives-in-competitive-search-equilibrium/</link>
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		<pubDate>Thu, 20 Jan 2011 09:49:46 +0000</pubDate>
		<dc:creator>Annika Andreasson</dc:creator>
				<category><![CDATA[Accepted papers]]></category>

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		<description><![CDATA[This paper proposes a labor market model with job search frictions where workers have private information on match quality and effort. Firms use wage contracts to motivate workers. In addition, wages are also used to attract employees. We define and characterize competitive search equilibrium in this context, and show that it satisfies a simple modified Hosios rule. We also analyze the interplay between macroeconomic variables and optimal wage contracts. Finally we show that private information may increase the responsiveness of the unemployment rate to changes in the aggregate productivity level and, in particular, to changes in the information structure. <a href="http://www.restud.com/accepted-papers/incentives-in-competitive-search-equilibrium/">Continue reading <span class="meta-nav">&#8594;</span></a>]]></description>
			<content:encoded><![CDATA[<p><span><a href="http://roes.wpengine.com/wp-content/uploads/2011/01/Moen_Rosen_Manuscript.pdf">Incentives in Competitive Search Equilibrium</a></span></p>
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