Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/233280 
Year of Publication: 
2011
Series/Report no.: 
Discussion paper No. 64
Publisher: 
Aboa Centre for Economics (ACE), Turku
Abstract: 
We solve the equilibrium market structure in a labor market where vacancies and unemployed workers can meet either in an intermediated market where wages are determined by take-it-orleave- it offers, or in a directed search market where firms post wages. By using an intermediary agents avoid the coordination problem which prevails in the search market. We study a monopolistic intermediary and perfect competition between intermediaries, and we consider the welfare properties of an intermediary institution, compared to an economy with an uncoordinated search process only.
Subjects: 
intermediary
matching
labor market
JEL: 
D40
J41
J64
Document Type: 
Working Paper

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