Can the Mortensen-Pissarides Model with Productivity Changes Explain U.S. Wage Inequality?
AbstractThis article examines whether the Mortensen-Pissarides matching model with productivity changes can explain the time pattern of wage inequality. The main finding is that the model produces counterfactual results. The main source of failure seems to be the exogenous matching function and/or the exogenous surplus share, neither of which allows firms to use wage policies to direct workers' searches.
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Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Labor Economics.
Volume (Year): 21 (2003)
Issue (Month): 1 (January)
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Web page: http://www.journals.uchicago.edu/JOLE/
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