EFFICIENCY AND LABOR MARKET DYNAMICS IN A MODEL OF LABOR SELECTION
刻画了劳动力选择模型中的有效劳动力市场配置，发现跨部门异质性导致新雇用的内生选择门槛，解释了求职率波动的40%。
This article characterizes efficient labor market allocations in a labor selection model. The model's crucial aspect is cross‐sectional heterogeneity for new job contacts, which leads to an endogenous selection threshold for new hires. With cross‐sectional dispersion calibrated to microeconomic data, 40% of empirically relevant fluctuations in the job‐finding rate arise, which contrasts with results in an efficient search and matching economy. The efficient selection model's results hold in partial and general equilibrium, as well as with sequential search.