unemployment. Moreover, the wage sweep-ups caused by nominal rigidity are strongly correlated with unemployment suggesting that … downward rigidity of nominal wages indeed contributes to unemployment …

unemployment. Moreover, the wage sweep-ups caused by nominal rigidity are strongly correlated with unemployment suggesting that … downward rigidity of nominal wages indeed contributes to unemployment. …

, real wages would indeed be quite responsive to unemployment. Moreover, the wage sweep-ups caused by nominal rigidity are … strongly correlated with unemployment suggesting that downward rigidity of nominal wages indeed contributes to unemployment. …

unemployment. Moreover, the wage sweep-ups caused by nominal rigidity are strongly correlated with unemployment suggesting that … downward rigidity of nominal wages indeed contributes to unemployment. …

When unemployment prevails, relations with a particular firm are valuable for workers. As a consequence, a worker may … shirk and switch firms. Our results thus suggest that unemployment is not a necessary device to motivate workers. We also … market characterized by unemployment. Surprisingly though, this does not compromise market performance …