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Employment fluctuations with downward wage rigidity : the role of moral hazard
Costain, James; Jansen, Marcel - 2009
, and a robust Beveridge curve. -- Job matching ; shirking ; efficiency wages ; endogenous separation ; contractual …
Persistent link: https://www.econbiz.de/10003879378
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Employment Fluctuations with Downward Wage Rigidity : The Role of Moral Hazard
Costain, James S. - 2006
This paper considers a dynamic matching model with imperfectly observable worker effort. In equilibrium, the wage …
Persistent link: https://www.econbiz.de/10012732526
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Wage rigidity and labor market dynamics with sorting
Schulz, Bastian - 2015
-Mortensen-Pissarides (DMP) search and matching model. Ex-ante heterogeneity and sorting have important implications for the dynamic properties … market. Additionally, endogenous matching sets fluctuate in response to shocks and amplify job-creation. Using a standard …, the firms' matching sets are wider in equilibrium than the workers' matching sets and fluctuate more in response to shocks. …
Persistent link: https://www.econbiz.de/10011280707
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Efficiency Wages and Labor Mobility in an Open Economy
Agenor, Pierre-Richard - 2006
The paper analyzes the role of labor market segmentation and relative wage rigidity in the transmission process of macroeconomic shocks in a two-sector optimizing model of a small open economy. The analysis is first conducted in the context of perfect intersectoral labor mobility. The discussion...
Persistent link: https://www.econbiz.de/10012781653
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Employment fluctuations with downward wage rigidity : the role of moral hazard
Costain, James; Jansen, Marcel - In: The Scandinavian journal of economics 112 (2010) 4, pp. 782-811
Persistent link: https://www.econbiz.de/10008988555
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Employment fluctuations with downward wage rigidity : the role of moral hazard
Costain, James; Jansen, Marcel - 2006
Persistent link: https://www.econbiz.de/10003397942
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Firm wages in a frictional labor market
Rudanko, Leena - 2018
This paper studies a labor market with directed search, where multi-worker firms follow a firm wage policy: They pay equally productive workers the same. The policy reduces wages, due to the influence of firms’ existing workers on their wage setting problem, increasing the profitability...
Persistent link: https://www.econbiz.de/10011971300
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Skill loss, ranking of job applicants, and the dynamics of unemployment
Eriksson, Stefan - 2001
This paper investigates the consequences of skill loss as a result of unemployment in an efficiency wage model with turnover costs and on-the-job search. Firms are unable to differentiate wages and therefore prefer to hire employed searchers or unemployed workers who have not lost human capital....
Persistent link: https://www.econbiz.de/10011573469
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The inflation-output tradeoff : which type of labor market rigidity is to be blamed?
Merkl, Christian - 2009
In the standard New Keynesian sticky price model the central bank faces no contradiction between the stabilization of inflation and the stabilization of the welfare relevant output gap after a productivity shock hits the economy. When the standard model is enhanced by real wage rigidities or...
Persistent link: https://www.econbiz.de/10003826554
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The macro-dynamics of sorting between workers and firms
Lise, Jeremy; Robin, Jean-Marc - 2013
We develop an equilibrium model of on-the-job search with ex-ante heterogeneous workers and firms, aggregate uncertainty and vacancy creation. The model produces rich dynamics in which the distributions of unemployed workers, vacancies and worker-firm matches evolve stochastically over time. We...
Persistent link: https://www.econbiz.de/10009785890