This paper introduces staggered right-to-manage wage bargaining into a NewKeynesian business cycle model. Our key result is that the model is able to generatepersistent responses in output, inflation, and total labor input to both neutraltechnology and monetary policy shocks. Furthermore, we...

This paper addresses the large degree of frictional wage dispersion in US data.The standard job matching model without on-the-job search cannot replicate thispattern. With on-the-job search, however, unemployed job searchers are more willingto accept low wage offers since they can continue to...

Gegenwärtig streiten sich Schweizer Medien darüber, ob es sich bei der vielfach debattierten Schlechterstellungvon niedrig zu höher qualifizierten Arbeitskräften in der Schweiz um Realität oder Mythos handelt. Sospricht zum einen die Zeitung Der Bund (2006) von einem „steigenden Lohndruck...

Sorting of people on the labor market not only assures the most productive use of valuableskills but also generates individual utility gains if people experience an optimal match betweenjob characteristics and their preferences. Based on individual data on subjective well-being it ispossible to...