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Recent monetary search models emphasize that the real effects of inflation via its impact on price dispersion depend on the level of search costs and, thus, on the level of market integration. For less integrated markets, the inflation-price dispersion nexus is predicted to be asymmetrically...
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Monetary search theory implies that the real effects of inflation via its impact on price dispersion depend on the level of search costs and, thus, on the level of market integration. For less integrated markets, the inflation-price dispersion nexus is predicted to be asymmetrically V-shaped...
Persistent link: https://www.econbiz.de/10008749778
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This paper studies the unemployment accelerator, a mechanism where workers directly affect the firms' financial conditions, and, in turn, firms' financial conditions feedback again to the real economy. The unemployment accelerator builds on two key assumptions: search frictions in the labor...
Persistent link: https://www.econbiz.de/10011573865
retirement age into Cahuc, Postel-Vinay, and Robin s (2006) strategic wage bargaining model with counteroffers and heterogeneous … retirement, match heterogeneity, and the worker's bargaining power. Because the working life is finite, the optimal search effort … of the current match. The bargaining power parameter influences the worker's reservation wage. The model can reproduce …
Persistent link: https://www.econbiz.de/10010338396
matching frictions and bargaining over real wages and hours of work. Search frictions generate unemployment in equilibrium …. Wage bargaining introduces a microfounded real wage rigidity. First, I study a Nash bargaining model. Then, I develop an … alternative bargaining model, which I refer to as right-to-manage bargaining. Both models have similar predictions in terms of …
Persistent link: https://www.econbiz.de/10014069816
Using a unique dataset of daily U.S. and U.K. price listings and the associated number of clicks for precisely defined goods from a major shopping platform, we shed new light on how prices are set in online markets, which have a number of special properties such as low search costs, low costs of...
Persistent link: https://www.econbiz.de/10010499510