Frictional Wage Dispersion in Search Models: A Quantitative Assessment
提出摩擦性工资离散度的新度量指标（平均最低工资比），发现基本搜索模型及其多数扩展中摩擦性工资离散度很小，但部分在职搜索模型例外，有助于解释结构搜索模型估计的实证差异。
We propose a new measure of frictional wage dispersion: the meanmin wage ratio. For a large class of search models, we show that this measure is independent of the wage-offer distribution but depends on statistics of labor-market turnover and on preferences. Under plausible preference parameterizations, observed magnitudes for worker flows imply that in the basic search model, and in most of its extensions, frictional wage dispersion is very small. Notable exceptions are some of the most recent models of on-the-job search. Our new measure allows us to rationalize the diverse empirical findings in the large literature estimating structural search models.