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Equilibrium unemployment as a discipline device when finding employment is costly

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  • Sang-Moon Hahm
  • Katarina Mayer

Abstract

In this paper, we study a model that incorporates costly job search into an efficiency wage model. We show that the relationship between wages and detection rates is ambiguous in this framework. The model can generate a positive relationship, consistent with empirically reasonable values for unemployment rates, job finding rates, and employment duration.

Suggested Citation

  • Sang-Moon Hahm & Katarina Mayer, 2011. "Equilibrium unemployment as a discipline device when finding employment is costly," Canadian Journal of Economics, Canadian Economics Association, vol. 44(2), pages 709-717, May.
  • Handle: RePEc:cje:issued:v:44:y:2011:i:2:p:709-717
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    Cited by:

    1. Sessions, John G. & Sk├ątun, John D., 2015. "Shirking, Standards and the Probability of Detection," IZA Discussion Papers 8863, Institute for the Study of Labor (IZA).

    More about this item

    JEL classification:

    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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