Labor Market Search and Real Business Cycles: Reconciling Nash Bargaining with the Real Wage Dynamics

This paper modifies the standard one-sector stochastic growth model in an effort to explain the observed low procyclicality of the aggregate real wage in the US. The modifications include labor market matching with Nash-bargaining of wages and preferences as introduced in the literature by Rogerson...

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Bibliographic details
Volume: 7
Main Author: Langot, Francois
Cheron, Arnaud
Format: Journal Article
Language: English
Place of publication: Elsevier for the Society for Economic Dynamics 2004
published in: Review of Economic Dynamics Vol. 7; no. 2; pp. 476 - 493
Data of publication: 2004
Series: Review of Economic Dynamics
Subjects:
Online Access: available in Bonn?
Database: RePEc
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