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A Repeated Game Heterogeneous-Agent Wage-Posting Model

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Author Info
Steinbacher, Matej
Steinbacher, Matjaz
Steinbacher, Mitja

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Abstract

In the paper, we simulate a heterogeneous-agent version of the wage-posting model as derived by Montgomery (1991) with homogeneous workers and differently-productive employers. Wage policy of particular employer is positively correlated with employer’s productivity level and the wage policy of the competitor. However, it is a less productive employer whose wage posting could also outweigh the posting of a more productive employer, though only temporarily.

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File URL: http://mpra.ub.uni-muenchen.de/16706/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 16706.

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Date of creation: Aug 2009
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Handle: RePEc:pra:mprapa:16706

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Related research
Keywords: Job-search model; Wage posting; Heterogeneous agents; Numerical optimization;

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Find related papers by JEL classification:
C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Statistical Simulation Methods

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. David Hirshleifer, 2001. "Investor Psychology and Asset Pricing," Journal of Finance, American Finance Association, vol. 56(4), pages 1533-1597, 08. [Downloadable!] (restricted)
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  2. Montgomery, James D, 1991. "Equilibrium Wage Dispersion and Interindustry Wage Differentials," The Quarterly Journal of Economics, MIT Press, vol. 106(1), pages 163-79, February. [Downloadable!] (restricted)
  3. Robert Shimer, 2005. "The Assignment of Workers to Jobs in an Economy with Coordination Frictions," Journal of Political Economy, University of Chicago Press, vol. 113(5), pages 996-1025, October.
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  4. John M. Abowd & Francis Kramarz & David N. Margolis, 1999. "High Wage Workers and High Wage Firms," Econometrica, Econometric Society, vol. 67(2), pages 251-334, March.
    Other versions:
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This page was last updated on 2009-11-29.

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