Firm Wages in a Frictional Labor Market
نویسندگان
چکیده
This paper studies wage setting in a directed search model of multiworker firms facing within-firm equity constraints on wages. The reduce wages, as exploit their monopsony power over existing workers, rendering wages less responsive to productivity doing so. They also give rise time inconsistency the dynamic firm problem, face elastic labor supply short run than long run, making commitment future valuable. Constrained find it profitable fix and so is good for worker welfare resource allocation equilibrium. (JEL E24, E32, J31, J42, J63, J64, M52)
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ژورنال
عنوان ژورنال: American Economic Journal: Macroeconomics
سال: 2023
ISSN: ['1945-7707', '1945-7715']
DOI: https://doi.org/10.1257/mac.20200440