The Job Ladder: Inflation vs. Reallocation
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We introduce on-the-job search frictions in an otherwise standard monetary DSGE New-Keynesian model. Heterogeneity in productivity across jobs gives rise to a job ladder. Firms Bertrand-compete for employed workers according to the Sequential Auctions protocol of Postel-Vinay and Robin (2002).
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美国国家经济研究局创建时间：
2023-07-01
