Data and Code for How Sticky Wages in Existing Jobs Can Affect Hiring
收藏ICPSR2021-01-01 更新2026-04-16 收录
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资源简介：
We consider a matching model of employment with flexible wages for new hires, but sticky wages within matches. Unlike most models of sticky wages, we allow effort to respond if wages are too high or too low. In the Mortensen-Pissarides model, employment is not affected by wage stickiness in existing matches. But it is in our model. If wages of matched workers are stuck too high, firms require more effort, lowering the value of additional labor and reducing hiring. We find that effort's response can greatly increasewage inertia.
提供机构：
Yonsei University; University of Rochester; Seoul National University
创建时间：
2021-01-01
