the long-run. Still, models with search seem promising as a framework for understanding how different wage setting …

labor more important for unemployment. I differentiate jobs based on their hiring pool and estimate their wage cyclicality …. The key finding is that wages in jobs hiring from unemployment are half as cyclical as wages in other jobs, for both … incumbent workers and new hires. To measure the effects of this on unemployment volatility, I develop a labor search model with …

This paper develops a sufficient statistics approach for estimating the role of search frictions in wage dispersion and … life‐cycle wage growth. We show how the wage dynamics of displaced workers are directly informative of both for a large … wage dispersion. Furthermore, the fraction of displaced workers who suffer a wage loss is informative of frictional wage …

wages after nine months of unemployment. Thus, the chance that long-term unemployed persons will receive a wage offer that …, whereby special focus is placed on unemployment duration. The results of the study indicate that in contrast to reservation … wages, offered wages decline considerably with duration of unemployment. This is the main reason that ratios of reservation …

Wages are only mildly cyclical, implying that shocks to labour demand have a larger short-run impact on unemployment … occasionally renegotiated. We argue that one source of the wage flexibility puzzles is plausibly the model for the determination of … reservation wages, and consider an alternative reservation wage model based on reference dependence in job search. This extension …

Wages are only mildly cyclical, implying that shocks to labour demand have a larger short-run impact on unemployment … occasionally renegotiated. We argue that one source of the wage flexibility puzzles is plausibly the model for the determination of … reservation wages, and consider an alternative reservation wage model based on reference dependence in job search. This extension …

wage losses of workers displaced due to firm closure based on the comparison of workers' wages differentials before and … after displacement. Potential wage losses of displaced workers can be related to firm, job title, and match heterogeneity in … that enables us to decompose the sources of the wage losses into the contribution of firm, job title, and match fixed …

This paper develops a sufficient statistics approach for estimating the role of search frictions in wage dispersion and … lifecycle wage growth. We show how the wage dynamics of displaced workers are directly informative of both for a large class of … search models. Specifically, the correlation between pre- and post-displacement wages is informative of frictional wage …

RBC models with search unemployment and wage renegotiation generate too much wage volatility and too stable … unemployment rate. Shimer (2004) shows that it is possible to reproduce a volatility of unemployment similar to that observed in … actual economies by imposing full real wage rigidity. We use a similar model but with Calvo wage contracts and we obtain a …