Homework for Wednesday 10/5

[pmichaillat]

Brief summary of the homework for next week:

• Watch lecture videos 28– in the section "Static Model of Slack". The videos will be made available shortly (hopefully by Friday).
• There are no readings this week.
• Work on your research projects and bring a 3–10 slides to present data you have found, describe the relevant literature, and articulate a possible research question/research answer/positioning (it is fine to propose several pitches).

Matt's project

Figure out how matching models of wage rigidity can be ported to the matching model of customer capital by Gourio & Rudanko (2014) to produce price rigidity.

Here are a few key matching models on wage rigidity:

• Thomas & Worrall (1988)
• Rudanko (2009)
• Rudanko (2011)
• Rudanko (2022)
• Hall (2005)
• Hall & Milgrom (2008)

Think especially about how the project will contribute to the literature given this new paper on price rigidity by Rudanko (2022).

Olivia's project

• Present evidence on food waste using government data.
• Aim to present both cross-country evidence and time series evidence for the US.
• Provide a review of the literature, even if there are not many papers on the topic

Camilla's project

• Find data on vacancies by education from JOLTS.
• If vacancies by education are unavailable, try to construct a proxy using vacancies by industry and combining these vacancies with education by industry.
• Ask John Friedman whether he can share the vacancies by education measured by BurningGlass
• Construct associated Beveridge curves by education
• Look at a related paper on job-finding and job-separation rates by education: Cairo & Cajner (2016)

Alternative project: Document all the resources (time & labor) allocated to recruiting and purchasing in the economy. A few resources are:

• Michaillat & Saez (2015, pp. 519–523)
• Michaillat & Saez (2021, p. 11)
• Ghassibe & Zanetti (2022, pp. 3–4)
• Gavazza, Mongey, Violante (2018)
• Petrosky-Nadeau, Wasmer, Zeng (2016)