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Employment Protection and Capital-Labor Ratios
Janiak, Alexandre; Wasmer, Etienne - Institute for the Study of Labor (IZA) - 2014
labor market institutions may sometimes favor physical and human capital investments in second-best environments. …
Persistent link: https://www.econbiz.de/10010812512
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Labor Market Efficiency, Wages and Employment when Search Frictions Interact with Intrafirm Bargaining
Cahuc, Pierre; Wasmer, Etienne - Institute for the Study of Labor (IZA) - 2001
In search of a macroeconomic theory of wage determination, the agnostic reader should be puzzled by the apparent contradiction between two influential theories. On one hand, in the standard search-matching theory with wage bargaining, hiring cost and constant returns of labor, the bargaining...
Persistent link: https://www.econbiz.de/10005703320
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Labor Market Flows and Equilibrium Search Unemployment
Garibaldi, Pietro; Wasmer, Etienne - Institute for the Study of Labor (IZA) - 2001
This paper explicitly differentiates between unemployment and inactivity, by defining inactivity as a state in which … of large flows between employment, unemployment and inactivity. Secondly, it shows that unemployment and aggregate wages … individuals do not search for jobs when non-employed. Facing changes in the value of inactivity, individuals transit through three …
Persistent link: https://www.econbiz.de/10005763713