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In employment relationships, a wage is an installment payment on an implicit long-term agreement between a worker and a firm. The price of labor that impacts firm's hiring decisions, instead, reflects the hiring wage as well as the impact of economic conditions at the time of hiring on future...
Persistent link: https://www.econbiz.de/10014507553
, the model captures the shapes of the empirically observed age profiles of average wages, the unemployment rate, the … unemployment to employment transition rate, and the employment to employment transition rate. …
Persistent link: https://www.econbiz.de/10010338396
– the rate of unemployment and the wages of similar workers in the outside market – and the wage-fairness perceptions of … suggestive evidence that increased local unemployment leads to improved employee performance, and, conditional on a particular …
Persistent link: https://www.econbiz.de/10010276948
Die Beschäftigungswirkungen von Steuersenkungen und Änderungen der Steuerprogressionwerden in Modellen mit Lohnverhandlungen und Effizienzlöhnen untersucht.Es zeigt sich, daß die betrachteten Standardmodelle die positiven Effekteeiner steileren Steuerprogression überzeichnen;...
Persistent link: https://www.econbiz.de/10005852903
This paper examines how specific human capital affects labour turnover and real wage cyclicality in a frictional labour market. I develop an equilibrium search model with long-term contracts and imperfect monitoring of worker effort. Imperfect monitoring creates a moral hazard problem that...
Persistent link: https://www.econbiz.de/10012848014
This paper presents a new model of endogenous wage and capital dispersion where heterogeneity is driven by entrepreneurial incentives to pay higher wages in order to attract and retain workers. The main contribution of this model is to provide a framework with microeconomic foundations that give...
Persistent link: https://www.econbiz.de/10013320214
% for a 1 pp decline in the unemployment rate. For large recessions, like the Great Recession, that implies a decline in the …
Persistent link: https://www.econbiz.de/10014248987
% for a 1 pp decline in the unemployment rate. For large recessions, like the Great Recession, that implies a decline in the …
Persistent link: https://www.econbiz.de/10014351463
We introduce "fair" wages in a general-equilibrium model where worker's effort is unobservable and investigate whether such a mechanism can quantitatively account for the degree of real wage rigidity in the Bulgarian labor markets, as documented in Lozev, Vladova, and Paskaleva (2011) and...
Persistent link: https://www.econbiz.de/10011974105
We introduce "fair" wages in a general-equilibrium model where worker's effort is unobservable and investigate whether such a mechanism can quantitatively account for the degree of real wage rigidity in the Bulgarian labor markets, as documented in Lozev, Vladova, and Paskaleva (2011) and...
Persistent link: https://www.econbiz.de/10012242326