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A Real-Business-Cycle model with reciprocity in labor relations and fiscal policy: the case of Bulgaria
Vasilev, Aleksandar - 2017
In this paper we introduce reciprocity in labor relations and government sector to investigate how well the real wage …-shirking type that empha- size the importance of aggregate labor market conditions as the main determinant in wage setting, e … be quantitatively important for wage dynamics. Overall, the model with reciprocity and fiscal policy performs well vis …
Persistent link: https://www.econbiz.de/10011622575
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A Real-Business-Cycle model with efficiency wages and a government sector: the case of Bulgaria
Vasilev, Aleksandar - In: Central European Journal of Economic Modelling and … (2017) 4, pp. 359-377
unobservable workers e ort by employers and wage contracts as in Shapiro and Stiglitz (1984), as well as a detailed government …
Persistent link: https://www.econbiz.de/10011739205
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A Real-Business-Cycle model with search-and-matching frictions and efficiency ("fair") wages
Vasilev, Aleksandar - In: Journal of Economics and Econometrics 64 (2021) 2, pp. 1-23
volatility of unemployment, while the efficiency wage mechanism fits better the cyclicality of the wage rate. …
Persistent link: https://www.econbiz.de/10012432746
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A real-business-cycle model with efficiency wages and fiscal policy : the case of Bulgaria
Vasilev, Aleksandar - 2016
Persistent link: https://www.econbiz.de/10011574005
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A real-business-cycle model with efficiency wages and a government sector : the case of Bulgaria
Vasilev, Aleksandar - 2017
unobservable workers e ort by employers and wage contracts as in Shapiro and Stiglitz (1984), as well as a detailed government …
Persistent link: https://www.econbiz.de/10011761449
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A real-business-cycle model with reciprocity in labor relations and fiscal policy : the case of Bulgaria
Vasilev, Aleksandar - 2017
In this paper we introduce reciprocity in labor relations and government sector to investigate how well the real wage …-shirking type that emphasize the importance of aggregate labor market conditions as the main determinant in wage setting, e … be quantitatively important for wage dynamics. Overall, the model with reciprocity and fiscal policy performs well vis …
Persistent link: https://www.econbiz.de/10011638342
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Search and matching frictions and business cycle fluctuations in Bulgaria
Vasilev, Aleksandar - 2016
In this paper we investigate the quantitative importance of search and matching fric- tions in Bulgarian labor markets. This is done by augmenting an otherwise standard real business cycle model a la Long and Plosser (1983) with both a two-sided costly search and fiscal policy. This introduces a...
Persistent link: https://www.econbiz.de/10011498689
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Are labor unions important for business cycle fluctuations : lessons from Bulgaria (1999-2016)
Vasilev, Aleksandar - 2019
In this paper we investigate the quantitative importance of collective agreements in explaining uctuations in Bulgarian labor markets. Following Maffezzoli (2001), we introduce a monopoly union in a real-business-cycle model with government sector. We calibrate the model to Bulgarian data for...
Persistent link: https://www.econbiz.de/10012057114
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A Real-Business-Cycle model with efficiency wages and fiscal policy: the case of Bulgaria
Vasilev, Aleksandar - 2016
unobservable workers effort by employers and wage contracts as in Shapiro and Stiglitz (1984). This imperfection in labor markets …
Persistent link: https://www.econbiz.de/10011572678
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Are labor unions important for business cycle fluctuations? Lessons from Bulgaria
Vasilev, Aleksandar - In: Eurasian Economic Review 10 (2019) 1, pp. 143–161
In this paper we investigate the quantitative importance of collective bargaining agreements for the observed fluctuations in Bulgarian labor markets. Following Maffezzoli (2001), we introduce a monopoly union into a real-business-cycle model with government sector. We calibrate the model to...
Persistent link: https://www.econbiz.de/10012063425