Heterogeneous Matching with Transferable Utility: Two Labor Market Applications*
构建了一个存在搜索摩擦的劳动力市场模型，其中参与者的生产率存在异质性，且匹配类型是内生的。通过两个应用，模型解释了为何高失业国家工资差异小、低失业国家工资差异大，以及为何法国工资数据中个人和企业特征的解释力强于美国。
A labor market model under search frictions is developed, where participants are heterogeneous in productivity and the decision of which type of agents to match with is endogenized. Two applications are studied. It is observed that countries with high (low) unemployment tend to exhibit low (high) wage dispersion. And there is evidence showing that individual and firm characteristics have more explanatory power for the French than for the American wage data. Matching patterns can account for these two observations. In the absence of a minimum wage, I thus provide a theory of endogenous wage compression.