of large flows between employment, unemployment and inactivity. Secondly, it shows that unemployment and aggregate wages …This paper explicitly differentiates between unemployment and inactivity, by defining inactivity as a state in which … labor market states. In steady-state, we hence have a theory of equilibrium unemployment determined by both matching …

One of the most stylized facts in labor economics is the finding that wages tend to rise with job duration but what is … performance and wages in the National Basketball Association (NBA) is used to test the superiority of one model over others in … wages are solely determined on the basis of their productivity. Findings are rather in accordance with shirking and matching …