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Efficiency in a search and matching model with right-to-manage bargaining

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  • Sunakawa, Takeki

Abstract

In a search and matching model with right-to-manage bargaining, matched workers and firms bargain over wages, given the firm’s demand schedule for hours per worker. Wages and hours per worker are determined as if they are determined in a competitive labor market with a distortion to wage markups. A positive inefficiency gap in the labor market diminishes workers’ effective bargaining power relative to firms, because firms can adjust labor input and wage schedule via the intensive margin. The Hosios condition does not necessarily hold even when workers’ actual bargaining power is equal to the unemployment elasticity of matches.

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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 117 (2012)
Issue (Month): 3 ()
Pages: 679-682

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Handle: RePEc:eee:ecolet:v:117:y:2012:i:3:p:679-682

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Web page: http://www.elsevier.com/locate/ecolet

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Keywords: Search and matching model; Right-to-manage bargaining; Efficiency;

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  1. Hosios, Arthur J, 1990. "On the Efficiency of Matching and Related Models of Search and Unemployment," Review of Economic Studies, Wiley Blackwell, vol. 57(2), pages 279-98, April.
  2. V. V. Chari & Patrick Kehoe & Ellen McGrattan, 2004. "Business Cycle Accounting," Levine's Bibliography 122247000000000560, UCLA Department of Economics.
  3. Galí, Jordi & Gertler, Mark & Lopez-Salido, Jose David, 2003. "Mark-ups, Gaps and the Welfare Costs of Business Fluctuations," CEPR Discussion Papers 4134, C.E.P.R. Discussion Papers.
  4. Christoffel, Kai & Kuester, Keith, 2008. "Resuscitating the wage channel in models with unemployment fluctuations," Working Paper Series 0923, European Central Bank.
  5. Kai Christoffel & Tobias Linzert, 2010. "The Role of Real Wage Rigidity and Labor Market Frictions for Inflation Persistence," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(7), pages 1435-1446, October.
  6. Kai Christoffel & Keith Kuester, 2008. "The elasticity of the unemployment rate with respect to benefits," Working Papers 08-15, Federal Reserve Bank of Philadelphia.
  7. Nickell, S J & Andrews, M, 1983. "Unions, Real Wages and Employment in Britain 1951-79," Oxford Economic Papers, Oxford University Press, vol. 35(0), pages 183-206, Supplemen.
  8. Rotemberg, Julio J., 2008. "The determination of weekly hours of work: A comment on Christoffel and Kuester's "Resuscitating the wage channel in models with unemployment fluctuations"," Journal of Monetary Economics, Elsevier, vol. 55(5), pages 888-891, July.
  9. Antonella Trigari, 2006. "The Role of Search Frictions and Bargaining for Inflation Dynamics," Working Papers 304, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
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