such a mechanism can quantitatively account for the degree of real wage rigidity in the Bulgarian labor markets, as …

such a mechanism can quantitatively account for the degree of real wage rigidity in the Bulgarian labor markets, as …

wage has risen. We propose an explanation for all three changes that is based on a common source: a decline in labor market … frictions. We develop a simple model with labor market frictions, variable effort, and endogenous wage rigidities to illustrate … observed decline in output volatility. -- Labor hoarding ; labor market frictions ; wage rigidities ; effort choice …

wage has risen. We propose an explanation for all three changes that is based on a common source: a decline in labor market … frictions. We develop a simple model with labor market frictions, variable effort, and endogenous wage rigidities to illustrate … observed decline in output volatility. -- labor hoarding ; labor market frictions ; wage rigidities ; effort choice …

We analyze the welfare impact of greater wage flexibility while taking into account explicitly the existence of the … adverse effects of greater wage flexibility on welfare when the central bank follows a conventional Taylor rule. When demand … shocks are the driving force, the presence of the ZLB implies that an increase in wage flexibility reduces welfare even under …

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 …

In this paper we introduce reciprocity in labor relations and government sector to in- vestigate how well the real wage … employment rate, are not found to be quantitatively important for wage dynamics. Overall, the model with reciprocity and fiscal …

such a mechanism can quantitatively account for the degree of real wage rigidity in the Bulgarian labor markets, as …

such a mechanism can quantitatively account for the degree of real wage rigidity in the Bulgarian labor markets, as …

unobservable workers e ort by employers and wage contracts as in Shapiro and Stiglitz (1984), as well as a detailed government …