Mobility Costs, Frictional Unemployment, and Efficiency
研究在就业信息不完美流动下，职位空缺和失业人数增加如何使工作分布更具吸引力，并证明稳态均衡无效率，引入失业补偿可提高福利。
With imperfect job information flows, it is plausible that the distribution of job offerings becomes more attractive when there are more vacancies and more unemployed. With word-of-mouth communication, this condition is derived. Given this condition, steady-state equilibrium is not efficient, with welfare increased by the introduction of unemployment compensation even though all agents are risk neutral. In this way workers become more selective in the jobs they accept.