The shadow wage is the social opportunity cost of labor. After reviewing earlier theoretical and empirical literature … of data. We find that the conversion factor for the shadow wage rate is 0.998 in 29 FSE regions (mostly capital cities …

Aggregate wages display little cyclicality compared to what a standard model would predict. Wage rigidities are an … effects increasingly matter in explaining the aggregate wage dynamics, i.e. aggregate wage growth has been lifted up by the … increase in the employment weight of high wage firms. To the extent that this reallocation occurs towards more productive firms …

model, agents are not allowed to borrow against future income. Unlike the traditional assumption of ex post wage payment … to the many-agent Ramsey model with ex post wage payment, the capital stock sequence converges to the steady state stock … timing of wage payment in growth models can lead to significant changes in the stability properties of equilibrium dynamics …

Aggregate wages display little cyclicality compared to what a standard model would predict. Wage rigidities are an … composition effects, especially during downturns. This paper seeks to understand the role of firm heterogeneity for aggregate wage … explaining aggregate wage growth and largely reflect shifts of labor from low-paying to high-paying firms, especially in the most …