A job ladder model with stochastic employment opportunities

We set up a model with on?the?job search in which firms infrequently post vacancies for workers occasionally apply. The nests the standard job ladder and stock?flow models as special cases, while remaining analytically tractable easy to estimate from panel data sets. parameters structurally estimated on US are significantly different either restrictions imposed by or model. Imposing these understates option associated employment are, unlike our model, inconsistent recent survey evidence declining finding rates starting wage duration of unemployment, both present data.