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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...
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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/10014533978
available evidence on the cyclicality of wages and we pay particular attention to the response of wages to identified monetary …
Persistent link: https://www.econbiz.de/10014024268
Typical measures of wages, such as average hourly earnings, fail to capture cyclicality in the effective cost of labor … employment matches. To address both concerns, we estimate cyclicality in labor's user cost exploiting the long-run wage in a …
Persistent link: https://www.econbiz.de/10014248987
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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
Typical measures of wages, such as average hourly earnings, fail to capture cyclicality in the effective cost of labor … employment matches. To address both concerns, we estimate cyclicality in labor's user cost exploiting the long-run wage in a …
Persistent link: https://www.econbiz.de/10014296768