Title: Search-theoretic models of the labor market
Description: "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 predictions.  We then consider equilibrium models that endogenize several variables that are treated parametrically in single-agent models, including the arrival rate of job offers and the wage distribution.  We survey alternative formulations of these models, emphasizing two key issues: how workers and firms meet, and how wages are determined.  We emphasize throughout the implications of alternative assumptions for turnover, wage dispersion, and efficiency"--National Bureau of Economic Research web site.
Subjects: Econometric models, Labor market, Labor supply