Stepping Off the Wage Escalator: The Effects of Wage Growth on Equilibrium Employment
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This paper emphasizes the role of wage growth in shaping work incentives. It provides an analytical framework for labor supply in the presence of a return to labor market experience and aggregate productivity growth. A key finding of the theory is that there is an interaction between these two forms
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美国国家经济研究局创建时间：
2009-06-01
