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Pompei, Italy, 2014
Professor: Kyle Herkenhoff
This course is designed to bring hard-working students to the frontier of the macro labor/search and matching literature, both theoretically and computationally (in fact, the two aspects are becoming less separable over time). We will work through the various generations of search models, from exogenous meetings, to random meetings, and finally to directed meetings. Along the way we will look at the major questions these models have been used to assess, and discuss potential avenues for future research in each of these setups. We will simultaneously work through recent theoretical advances on the topics of labor market power, minimum wages, markdowns, income processes, and how these interact with the theory of the household.
The course will not have a final. Grades will be entirely based on 6 homeworks, equally weighted (16\% of your grade), one per week, due at the start of class in the following week, where the final homework will be due on the last day of class.
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