Cyclical Wages in a Search-and-Bargaining Model with Large Firms
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This paper presents a complete general equilibrium model with flexible wages where the degree to which wages and productivity change when cyclical employment changes is roughly consistent with postwar U.S. data. Firms with market power are assumed to bargain simultaneously with many employees, each
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美国国家经济研究局创建时间：
2006-08-01
