De Walque, Gregory; Pierrard, Olivier; Sneessens, Henri R. - 2009
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sive margin, that is allowing hours worked to be modi�ed along the business cycle. Several
recent papers have worked on …-
sons. Given the medium-to-long run agreement reached for the wage, the workforce can be
adjusted along the business cycle … the US labor market, we opt for a monthly calibration. The key parameters of the
business cycle literature are calibrated …