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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| 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 RePEc IDEAS Database information Databases - DBIS |