RICHMOND, Virginia, Dec. 19 (TNSres) -- The Federal Reserve Bank of Richmond issued the following white paper (No. 24-14) in November 2024 by Katarina Borovickova and Robert Shimer entitled "Assortative Matching and Wages: The Role of Selection."

Here are excerpts:

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We develop a random search model with two-sided heterogeneity and match-specific productivity shocks to explain why high-productivity workers tend to work at high-productivity fir . . .

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