Postel-Vinay, Fabien (contributor); … - 2006
outside offer, in which case it equals the value of this
offer. As wages can only be renegotiated by mutual consent, neither …. Hidden
underneath this constant-share feature is the assumption that wages are renegotiated at least every
time the match is …
scope for more responsiveness of wages to productivity shocks, the empirical evidence reviewed in Malcomson (1997,
1999 …