Can Wage and Price Stickiness Account for Sizeable Costs of Business Cycle Fluctuations?
نویسندگان
چکیده
منابع مشابه
Employment Fluctuations with Equilibrium Wage Stickiness
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Following a recession, the aggregate labor market is slack–employment remains below normal and recruiting efforts of employers, as measured by help-wanted advertising and vacancies, are low. A model of matching friction explains the qualitative responses of the labor market to adverse shocks, but requires implausibly large shocks to account for the magnitude of observed fluctuations. The incorp...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2004
ISSN: 1556-5068
DOI: 10.2139/ssrn.614402