Efficiency and labor market dynamics in a model of labor selection
We characterize efficient allocations and business cycle fluctuations in a labor selection model. Due to forward-looking hiring and labor supply decisions, efficiency entails both static and intertemporal margins. We develop welfare-relevant measures of marginal rates of transformation and efficienc...
Chugh, Sanjay K
|Place of publication:||
Kiel Kiel Institute for the World Economy (IfW) 2011
|published in:||Kiel Working Paper Vol. 1684|
|Data of publication:||2011|
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