Showing 1 - 10 of 6,898
Persistent link: https://www.econbiz.de/10000867886
I consider three views of the labor market. In the first, wages are flexible and employment follows the principle of bilateral efficiency. Workers never lose their jobs because of sticky wages. In the second view, wages are sticky and inefficient layoffs do occur. In the third, wages are also...
Persistent link: https://www.econbiz.de/10013218535
We modify the standard real business cycle model by assuming that wages are set by a monopoly union at the firm level. In the context of such a model, we introduce a measure of unemployment and analyze its equilibrium behavior. We show that a calibrated version of the model is capable of...
Persistent link: https://www.econbiz.de/10013217603
We show that the inability of a standardly-calibrated labor search-and-matching model to account for labor market volatility extends beyond the U.S. to a set of OECD countries. That is, the volatility puzzle is ubiquitous. We argue cross-country data is helpful in scrutinizing between potential...
Persistent link: https://www.econbiz.de/10010251658
Persistent link: https://www.econbiz.de/10003278935
Persistent link: https://www.econbiz.de/10011451805
Persistent link: https://www.econbiz.de/10011770606
Persistent link: https://www.econbiz.de/10011574206
Persistent link: https://www.econbiz.de/10011592334
I consider three views of the labor market. In the first, wages are flexible and employment follows the principle of bilateral efficiency. Workers never lose their jobs because of sticky wages. In the second view, wages are sticky and inefficient layoffs do occur. In the third, wages are also...
Persistent link: https://www.econbiz.de/10012467502