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local labour market is in close proximity of other labour markets, a local shock that increases unemployment may not lead to …
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specialization and diversification mitigate wage depressing effects of different types of employment shocks. On the firm level, shock … firms to share employment risks. However, we find only weak evidence for shock intensive industries to be more concentrated …
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The wage curve introduced by Blanchflower and Oswald (1990, 1994) postulates a negative correlation between wages and unemployment. Empirical results focus on particular theoretical channels establishing the relationship. Panel models mostly draw on unionized bargaining or the efficiency wage...
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