In this paper, we analyze the connection between value added, wages, and labor market ows at the establishment level …

In this paper, we analyze the connection between value added, wages, and labor market flows at the establishment level …

Wages are only mildly cyclical, implying that shocks to labour demand have a larger short-run impact on unemployment … rather than wages, at odds with the quantitative predictions of the canonical search model – even if wages are only … reservation wages, and consider an alternative reservation wage model based on reference dependence in job search. This extension …