Related papers: $u^* = \sqrt{uv}$
Central results in economics guarantee the existence of efficient equilibria for various classes of markets. An underlying assumption in early work is that agents are price-takers, i.e., agents honestly report their true demand in response…
Workers separate from jobs, search for jobs, accept jobs, and fund consumption with their wages. Firms recruit workers to fill vacancies. Search frictions prevent firms from instantly hiring available workers. Unemployment persists. These…
Let $G=(U \cup V, E)$ be a bipartite graph, where $U$ represents jobs and $V$ represents machines. We study a new variant of the bipartite matching problem in which each job in $U$ can be matched to at most one machine in $V$, and the…
Recently, scholars from law and political science have introduced metrics which use only election outcomes (and not district geometry) to assess the presence of partisan gerrymandering. The most high-profile example of such a tool is the…
Traditionally, the impact of minimum wages on employment has been studied, and it is generally believed to have a negative effect. Yet, some recent studies have shown that the impact of minimum wages on employment can sometimes be positive.…
Employment on a societal scale contributes heavily to national and global affairs; consequently, job openings and unemployment estimates provide important information to financial markets and governments alike. However, such reports often…
Homelessness in American cities is becoming an ever more prominent issue, but its causes remain contested, ranging from mental health and substance abuse to housing affordability and local labor markets. To shed light on this issue, I…
We model the rate of inflation and unemployment in Austria since the early 1960s within the Phillips/Fisher framework. The change in labour force is the driving force representing economic activity in the Phillips curve. For Austria, this…
We consider a time-slotted job-assignment system with a central server, N users and a machine which changes its state according to a Markov chain (hence called a Markov machine). The users submit their jobs to the central server according…
We study a dynamic labor market in which a risk-averse worker with career concerns chooses each period between self-employment, which generates publicly observed binary output, and employment at a firm, which pays a flat wage but keeps…
The expression "wage transition" refers to the fact that over the past two or three decades in all developed economies wage increases have levelled off. There has been a widening divergence and decoupling between wages on the one hand and…
Volatility is the canonical measure of financial risk, a role largely inherited from Modern Portfolio Theory. Yet, its universality rests on restrictive efficiency assumptions that render volatility, at best, an incomplete proxy for true…
The academic job market for new statisticians is highly congested at the interview stage, where departments must rank and select candidates from large applicant pools without credible signals of candidate interest. As a result, interviews…
The origin of economic crises is a key problem for economics. We present a model of long-run competitive markets to show that the multiplicity of behaviors in an economic system, over a long time scale, emerge as statistical regularities…
We study matching markets with ties, where workers on one side of the market may have tied preferences over jobs, determined by their matching utilities. Unlike classical two-sided markets with strict preferences, no single stable matching…
In federated learning (FL), clients usually have diverse participation statistics that are unknown a priori, which can significantly harm the performance of FL if not handled properly. Existing works aiming at addressing this problem are…
This paper identifies the causal effects of full-scale kremlin aggression on socio-economic outcomes in Ukraine three months into the full-scale war. First, forced migration after February 24th, 2022 is associated with an elevated risk of…
We introduce a probabilistic model of labor markets for university graduates, in particular, in Japan. To make a model of the market efficiently, we take into account several hypotheses. Namely, each company fixes the (business year…
An $(f,g)$-semi-matching in a bipartite graph $G=(U \cup V,E)$ is a set of edges $M \subseteq E$ such that each vertex $u\in U$ is incident with at most $f(u)$ edges of $M$, and each vertex $v\in V$ is incident with at most $g(v)$ edges of…
In this paper we deal with the optimal bankruptcy problem for an agent who can optimally allocate her consumption rate, the amount of capital invested in the risky asset as well as her leisure time. In our framework, the agent is endowed by…