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. -- Wage Rigidity ; Search and Matching Model ; Business Cycle …
Persistent link: https://www.econbiz.de/10003827155
Shimer (2005) and Hall (2005) have documented the failure of standard labor market search models to match business cycle fluctuations in employment and unemployment. They argue that it is likely that wages are not adjusted as regularly as suggested by the model, which would explain why...
Persistent link: https://www.econbiz.de/10012729156
Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume wages are rigid. We explore whether this explanation is consistent with the data. We show that the wage of newly hired workers, unlike the aggregate wage, is volatile and...
Persistent link: https://www.econbiz.de/10013324956
In a reasonably calibrated Mortensen and Pissarides matching model, shocks to average labor productivity can account …
Persistent link: https://www.econbiz.de/10012706057
Persistent link: https://www.econbiz.de/10008759484
Persistent link: https://www.econbiz.de/10003732291
Persistent link: https://www.econbiz.de/10011488567
Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume wages are rigid. We explore whether this explanation is consistent with the data. We show that the wage of newly hired workers, unlike the aggregate wage, is volatile and...
Persistent link: https://www.econbiz.de/10010270767
Persistent link: https://www.econbiz.de/10003881509
Persistent link: https://www.econbiz.de/10011573248