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Employment fluctuations with downward wage rigidity : the role of moral hazard
Costain, James; Jansen, Marcel - 2009
, and a robust Beveridge curve. -- Job matching ; shirking ; efficiency wages ; endogenous separation ; contractual …
Persistent link: https://www.econbiz.de/10003879378
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Employment Fluctuations with Downward Wage Rigidity : The Role of Moral Hazard
Costain, James S. - 2006
This paper considers a dynamic matching model with imperfectly observable worker effort. In equilibrium, the wage …
Persistent link: https://www.econbiz.de/10012732526
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Wage rigidity and labor market dynamics with sorting
Schulz, Bastian - 2015
-Mortensen-Pissarides (DMP) search and matching model. Ex-ante heterogeneity and sorting have important implications for the dynamic properties … market. Additionally, endogenous matching sets fluctuate in response to shocks and amplify job-creation. Using a standard …, the firms' matching sets are wider in equilibrium than the workers' matching sets and fluctuate more in response to shocks. …
Persistent link: https://www.econbiz.de/10011280707
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Efficiency Wages and Labor Mobility in an Open Economy
Agenor, Pierre-Richard - 2006
The paper analyzes the role of labor market segmentation and relative wage rigidity in the transmission process of macroeconomic shocks in a two-sector optimizing model of a small open economy. The analysis is first conducted in the context of perfect intersectoral labor mobility. The discussion...
Persistent link: https://www.econbiz.de/10012781653
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Employment fluctuations with downward wage rigidity : the role of moral hazard
Costain, James; Jansen, Marcel - In: The Scandinavian journal of economics 112 (2010) 4, pp. 782-811
Persistent link: https://www.econbiz.de/10008988555
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Employment fluctuations with downward wage rigidity : the role of moral hazard
Costain, James; Jansen, Marcel - 2006
Persistent link: https://www.econbiz.de/10003397942
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Firm wages in a frictional labor market
Rudanko, Leena - 2018
This paper studies a labor market with directed search, where multi-worker firms follow a firm wage policy: They pay equally productive workers the same. The policy reduces wages, due to the influence of firms’ existing workers on their wage setting problem, increasing the profitability...
Persistent link: https://www.econbiz.de/10011971300
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Employment fluctuations with downward wage rigidity: the role of moral hazard
Costain, James S.; Jansen, Marcel - 2009
This paper studies the cyclical dynamics of Mortensen and Pissarides' (1994) model of job creation and destruction when workers' effort is not perfectly observable, as in Shapiro and Stiglitz (1984). An occasionally-binding no-shirking constraint truncates the real wage distribution from below,...
Persistent link: https://www.econbiz.de/10010269648
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Employment fluctuations with downward wage rigidity: the role of moral hazard
Costain, James; Jansen, Marcel - Banco de España - 2006
This paper considers a dynamic matching model with imperfectly observable worker effort. In equilibrium, the wage …
Persistent link: https://www.econbiz.de/10005022236
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Employment Fluctuations with Downward Wage Rigidity
Costain, James; Jansen, Marcel - Society for Computational Economics - SCE - 2006
This paper considers a dynamic matching model with imperfectly observable worker effort as in Shapiro and Stiglitz … (1994). In our economy the no-shirking condition endogenously imposes real wage rigidity on the matching market. This …
Persistent link: https://www.econbiz.de/10005706170