factors, including those captured through upstream foreign commodity and producer prices, have been important drivers of non …

macroeconomic vulnerabilities (especially in relation to commodity prices and prospective defined liabilities), we derive an SAA …

-specific variable, it is known that there are K reservation wages that could be posted, but generically never more than two actually are … posted in equilibrium. What is unknown is when we get two wages, and which wages are actually posted. For an example with K … combination of posted reservation wages, depending on parameters. We also show how wages, profits, and unemployment depend on …

precluding active monetary policy. Adjustment to past shocks has relied on flexible domestic prices. We find that a minimum wage …

In flow models of the labor market, wages are determined by negotiations between workers and employers on the surplus …