We introduce aggregate shocks to workers' value of job amenities in a frictional equilibrium model of the labor market with on-the-job search, where the job creation cost is sunk and quits trigger ...

We use a dynamic trade and reallocation model with downward nominal wage rigidities to quantitatively assess the economic consequences of recent U.S. tariff increases on imports from Mexico, Canada, ...

The result represents a sharp reversal from the growth of 1.5% in the fourth quarter of 2024 and 2.8% for last year as a ...