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We look at the impact of a binding minimum wage on labor market outcomes and welfare distributions in a partial equilibrium model of matching and bargaining in the presence of on-the-job search. We use two different specifications of the Nash bargaining problem. In one, firms engage in a...
Persistent link: https://www.econbiz.de/10005013926
We propose a parsimonious model with adverse selection where delinquency, renegotiation, and bankruptcy all occur in …, and thus become delinquent. The lender renegotiates with some delinquent borrowers. In the absence of renegotiation …
Persistent link: https://www.econbiz.de/10010751629
renegotiation functions that do not reward agents for unfeasibilities. This result is used to study the possibility of implementing …
Persistent link: https://www.econbiz.de/10005181142