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Essays on Search Theory in Labor and Financial Markets
Essays on Search Theory in Labor and Financial Markets
상세정보
- 자료유형
- 학위논문 서양
- 최종처리일시
- 20260209102834
- ISBN
- 9798293886753
- DDC
- 658
- 서명/저자
- Essays on Search Theory in Labor and Financial Markets
- 발행사항
- [Sl] : New York University, 2025
- 발행사항
- Ann Arbor : ProQuest Dissertations & Theses, 2025
- 형태사항
- 132 p
- 주기사항
- Source: Dissertations Abstracts International, Volume: 87-03, Section: A.
- 주기사항
- Advisor: Lagos, Ricardo.
- 학위논문주기
- Thesis (Ph.D.)--New York University, 2025.
- 초록/해제
- 요약This thesis studies the presence and equilibrium consequences of search frictions in both labor and financial asset markets. The first two chapters examine the managerial labor market using German administrative data, documenting that 40% of managerial inflows come from internal promotions-comparable to external job-to-job transitions. I develop a search model with internal reallocation and on-the-job learning where external flows depend on firms' internal organization, while internal flows depend on workers' skill accumulation under managers and external hiring events. The data reveals substantial managerial wage premiums and managers' key role in worker skill development. The model matches observed flows and provides insights across the talent distribution. Policy analysis of targeted Non-Compete Agreements shows that restrictions on managers accelerate promotions but reduce output, whereas worker non-competes enhance skill accumulation and productivity.The third chapter develops an OTC search model with asymmetric information and double-sided uncertainty over asset quality, where asset ownership doesn't guarantee quality knowledge. This creates information deterioration across trades, making sellers increasingly pessimistic despite unchanged aggregate quality. Frequent re-trade opportunities coarsen economic information, reducing liquidity and trade volume. When good assets aren't originated at a higher volume than what is currently being traded in the market, only the most pessimistic sellers will trade in equilibrium.
- 일반주제명
- Finance
- 키워드
- Labor
- 키워드
- Liquidity
- 키워드
- Search theory
- 기타저자
- New York University Economics
- 기본자료저록
- Dissertations Abstracts International. 87-03A.
- 전자적 위치 및 접속
- 로그인 후 원문을 볼 수 있습니다.
MARC
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■020 ▼a9798293886753
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■040 ▼aMiAaPQ▼cMiAaPQ
■0820 ▼a658
■1001 ▼aSingle Toledo, Gabriel.
■24510▼aEssays on Search Theory in Labor and Financial Markets
■260 ▼a[Sl]▼bNew York University▼c2025
■260 1▼aAnn Arbor▼bProQuest Dissertations & Theses▼c2025
■300 ▼a132 p
■500 ▼aSource: Dissertations Abstracts International, Volume: 87-03, Section: A.
■500 ▼aAdvisor: Lagos, Ricardo.
■5021 ▼aThesis (Ph.D.)--New York University, 2025.
■520 ▼aThis thesis studies the presence and equilibrium consequences of search frictions in both labor and financial asset markets. The first two chapters examine the managerial labor market using German administrative data, documenting that 40% of managerial inflows come from internal promotions-comparable to external job-to-job transitions. I develop a search model with internal reallocation and on-the-job learning where external flows depend on firms' internal organization, while internal flows depend on workers' skill accumulation under managers and external hiring events. The data reveals substantial managerial wage premiums and managers' key role in worker skill development. The model matches observed flows and provides insights across the talent distribution. Policy analysis of targeted Non-Compete Agreements shows that restrictions on managers accelerate promotions but reduce output, whereas worker non-competes enhance skill accumulation and productivity.The third chapter develops an OTC search model with asymmetric information and double-sided uncertainty over asset quality, where asset ownership doesn't guarantee quality knowledge. This creates information deterioration across trades, making sellers increasingly pessimistic despite unchanged aggregate quality. Frequent re-trade opportunities coarsen economic information, reducing liquidity and trade volume. When good assets aren't originated at a higher volume than what is currently being traded in the market, only the most pessimistic sellers will trade in equilibrium.
■590 ▼aSchool code: 0146.
■650 4▼aFinance
■653 ▼aFirm organization
■653 ▼aLabor
■653 ▼aLiquidity
■653 ▼aOver-the-counter market
■653 ▼aSearch theory
■690 ▼a0501
■690 ▼a0510
■690 ▼a0511
■690 ▼a0508
■71020▼aNew York University▼bEconomics.
■7730 ▼tDissertations Abstracts International▼g87-03A.
■790 ▼a0146
■791 ▼aPh.D.
■792 ▼a2025
■793 ▼aEnglish
■85640▼uhttp://www.riss.kr/pdu/ddodLink.do?id=T17365835▼nKERIS▼z이 자료의 원문은 한국교육학술정보원에서 제공합니다.
