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Recent research documents mounting evidence for sizable and persistent biases in individual labor market expectations. This paper incorporates subjective expectations into a general equilibrium labor market model and studies the implications of biased expectations for wage bargaining, vacancy...
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und die Arbeitsmarktpolitik analytisch untersuch. Als besonders wichtig für den Propagationsmechanismus von …
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model with search-and-matching frictions, collective bargaining and monopolistic competition in the product market. Workers …
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Several authors have proposed staggered wage bargaining as a way to introduce sticky wages into search and matching … a series of estimated shocks from US data into a search and matching model with sticky prices and wages. I compare the … cycle volatility and matching the lack of a long-run relationship between vacancy creation and inflation. With regard to …
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