-setting decisions on an internal reference, called the fairness reference. Wage and employment outcomes and the shape of the aggregate … wagesetting curve depend on the weight and the size of the fairness reference relative to the outside option. If the fairness …, whereas real wages are more rigid than in the standard model. With a low fairness reference the opposite results are obtained …

-setting decisions on an internal reference, called the fairness reference. Wage and employment outcomes and the shape of the aggregate … wagesetting curve depend on the weight and the size of the fairness reference relative to the outside option. If the fairness …, whereas real wages are more rigid than in the standard model. With a low fairness reference the opposite results are obtained …

-setting decisions on an internal reference, called the fairness reference. Wage and employment outcomes and the shape of the aggregate … wage-setting curve depend on the weight and the size of the fairness reference relative to the outside option. If the … fairness reference is relatively high compared to the outside option, higher wages and lower employment than in the standard …

-setting decisions on an internal reference, called the fairness reference. Wage and employment outcomes and the shape of the aggregate … wage-setting curve depend on the weight and the size of the fairness reference relative to the outside option. If the … fairness reference is relatively high compared to the outside option, higher wages and lower employment than in the standard …

-setting decisions on an internal reference, called the fairness reference. Wage and employment outcomes and the shape of the aggregate … wage-setting curve depend on the weight and the size of the fairness reference relative to the outside option. If the … fairness reference is relatively high compared to the outside option, higher wages and lower employment than in the standard …

-setting decisions on an internal reference, called the fairness reference. Wage and employment outcomes and the shape of the aggregate … wagesetting curve depend on the weight and the size of the fairness reference relative to the outside option. If the fairness …, whereas real wages are more rigid than in the standard model. With a low fairness reference the opposite results are obtained …

to accept a low wage in order to reduce the probability of unemployment, but less willing to lower the real wage if labor … unemployment and increases real and nominal wage rigidity. …

, wages of both skill groups, and unemployment. In contrast to the canonical model with a fixed task allocation, low …-skilled workers may be harmed in terms of either lower wages or higher unemployment depending on the relative task …-2017. The simulated effects of SBTC on low-skilled unemployment are largely consistent with observed developments. For example …

of both skill groups, and unemployment. In contrast to the canonical model with a fixed task allocation, low …-skilled workers may be harmed in terms of either lower wages or higher unemployment depending on the relative task …-2017. The simulated effects of SBTC on low-skilled unemployment are largely consistent with observed developments. For example …

, wages of both skill groups, and unemployment. In contrast to the canonical model with a fixed task allocation, low …-skilled workers may be harmed in terms of either lower wages or higher unemployment depending on the relative task …-2017. The simulated effects of SBTC on low-skilled unemployment are largely consistent with observed developments. For example …