job search model how the combined assumptions of on-the-job search and wage renegotiation by mutual consent act as a … quantitatively plausible quot;internal propagation mechanismquot; of i.i.d. productivity shocks into persistent wage shocks. The … model suggests that wage dynamics should be thought of as the outcome of a specific acceptance/rejection scheme of i …

We investigate the impact of a substantial minimum wage increase, which became effective in January 2016, on consumer … by banks with a historically high share of low-wage loan customers have increased relative to those provided by banks … with a historically low share of low-wage loan customers after January 2016. Our results suggest that consumer loan flows …

We present a new theory of wage adjustment, based on worker loss aversion. In line with prospect theory, the workers …' perceived utility losses from wage decreases are weighted more heavily than the perceived utility gains from wage increases of … equal magnitude. Wage changes are evaluated relative to an endogenous reference wage, which depends on the workers' rational …

Wage inequality has risen in many countries over recent decades. At the same time, production has become increasingly … shocks that increase concentration will also lead to an increase in wage dispersion between firms. Empirically, we use …-tically significant correlation between concentration and between-firm wage inequality, driven by increases in market shares and wages in …