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Equilibrium Wage Rigidity in A Search and Matching Model with Replacement Hiring
Teramoto, Kazuhiro - 2022
I propose a new search-and-matching model in which wage rigidity and volatile unemployment endogenously arise. The …-the-job search and replacement hiring into a long-lived jobs framework. The presence of replacement hiring (i) enhances unemployment …
Persistent link: https://www.econbiz.de/10014083443
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Wage rigidity and labor market dynamics with sorting
Schulz, Bastian - 2015
This paper adds two-sided ex-ante heterogeneity and a production technology inducing sorting to the canonical Diamond-Mortensen-Pissarides (DMP) search and matching model. Ex-ante heterogeneity and sorting have important implications for the dynamic properties of the model. The modifications...
Persistent link: https://www.econbiz.de/10011280707
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Wage rigidity and job creation
Häfke, Christian; Sonntag, Marcus; Rens, Thijs van - 2009
Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle …
Persistent link: https://www.econbiz.de/10003827155
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Wage Rigidity and Job Creation
Haefke, Christian - 2007
cycle fluctuations in employment and unemployment. They argue that it is likely that wages are not adjusted as regularly as …
Persistent link: https://www.econbiz.de/10012729156
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Wage Rigidity and Job Creation
Haefke, Christian; Sonntag, Marcus; van Rens, Thijs - 2021
Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle …
Persistent link: https://www.econbiz.de/10013324956
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How cyclical is the user cost of labor?
Kudlyak, Marianna - 2024
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
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Are "fair" wages quantitatively important for business cycle fluctuations in Bulgaria?
Vasilev, Aleksandar - 2018
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
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Downward rigidity in the wage for new hires
Hazell, Jonathon; Taska, Bledi - 2023
Wage rigidity is an important explanation for unemployment fluctuations. In benchmark models wages for new hires are … respond to rises in unemployment, but respond strongly to falls in unemployment. Job information is crucial for detecting …
Persistent link: https://www.econbiz.de/10014388608
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A competitive model of worker replacement and wage rigidity
Snell, Andy; Thomas, Jonathan P.; Wang, Zhewei - 2014
downward rigidity, and magnifying the response of unemployment to negative shocks. We also consider layoffs and show that for a …
Persistent link: https://www.econbiz.de/10010237280
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Measuring heterogeneity in job finding rates among the nonemployed using labor force status histories
Kudlyak, Marianna; Lange, Fabian - 2014
We use a novel approach to studying the heterogeneity in the job finding rates of the nonemployed by classifying the nonemployed by labor force status (LFS) histories, instead of using only one-month LFS. Job finding rates differ substantially across LFS histories: they are 25-30% among those...
Persistent link: https://www.econbiz.de/10010440544