Unions in a Frictional Labor Market
---- Acknowledgements ----
We are grateful toMarina Azzimonti, Matteo Cacciatore, Steve Davis, Fatih Guvenen, William Hawkins, Patrick Kehoe, John Kennan, Guido Menzio, Fabien Postel-Vinay, Victor Rios-Rull, Robert Shimer, seminar and conference audiences, as well as the editor and referee for comments. Rudanko thanks the Hoover Institution for its hospitality and financial support, and the Fulbright Program for financial support. Financial support from the NSF is gratefully acknowledged. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.