A Note on Nash Bargaining with On-the-job Search

نویسنده

  • Robert Shimer
چکیده

where E(w) is the value of the worker if matched at a wage w, J(w) is the value of the firm if matched at that wage, U is the worker’s threat point (unemployment) and V is the firm’s threat point (vacancy). If the derivative of E and J with respect to w is the same, as is the case in many search models without on-the-job search and with risk-neutral workers, then maximization of the Nash product leads to the first order condition

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تاریخ انتشار 2003