We analyse labor market dynamics with an agent based model, which replicates a set of stylized facts in the labor market as well as aggregate regularities. We are able to reproduce the Beveridge curve, job creation and destruction flows, a persistent unemployment level, and wages stickiness. On...

The concept of productivity was originally given by economists like Adam Smith, David Ricardo and J.S Mill as early as in the 18th century. The Classical economists who originated this concept of productivity had Technocrats like Taylor who gave practical slant to productivity in his ‘task...