TY  - RPRT
        AU  - Albrecht, James
AU  - Navarro, Lucas
AU  - Vroman, Susan
        TI  - Efficiency in a Search and Matching Model with Endogenous Participation
        PY  - 2009/Mar/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 4097
        UR  - https://www.iza.org/index.php/publications/dp4097
        AB  - We show that in a search/matching model with endogenous participation in which workers are heterogeneous with respect to market productivity, satisfying the Hosios rule leads to excessive vacancy creation. The reason is that the marginal worker does not internalize the effect of his or her participation on average productivity.
        KW  - participation
KW  - efficiency
KW  - matching
KW  - search
KW  - Hosios rule
        ER  -