The value of leisure or disutility of work: Wage dispersion in a model of search with endogenous effort
Wage dispersion is generated in a sequential search environment through heterogeneity in firm productivity along with an individual wage-effort trade-off. For a given degree of TFP dispersion, the framework can generate any amount of wage dispersion. Calibrated to generate realistic gains from trade, it is able to generate the kind of wage dispersion observed in data.
|Date of creation:||2012|
|Date of revision:|
|Contact details of provider:|| Postal: Department of Economics, BA 110 University at Albany State University of New York Albany, NY 12222 U.S.A.|
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|Order Information:|| Postal: Department of Economics, BA 110 University at Albany State University of New York Albany, NY 12222 U.S.A.|
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References listed on IDEAS
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- Guido Menzio, 2007.
"A Theory of Partially Directed Search,"
Journal of Political Economy,
University of Chicago Press, vol. 115(5), pages 748-769, October.
- Marcus Hagedorn & Iourii Manovskii, 2008.
"The Cyclical Behavior of Equilibrium Unemployment and Vacancies Revisited,"
American Economic Review,
American Economic Association, vol. 98(4), pages 1692-1706, September.
- Hagedorn, Marcus & Manovskii, Iourii, 2008. "The cyclical behavior of equilibrium unemployment and vacancies revisited," Working Paper Series 0853, European Central Bank.
- Marcus Hagedorn & Iourii Manovskii, 2005. "The Cyclical Behavior of Equilibrium Unemployment and Vacancies Revisited," 2005 Meeting Papers 460, Society for Economic Dynamics.
- Marcus Hagedorn & Iourii Manovskii, 2007. "The Cyclical Behavior of Equilibrium Unemployment and Vacancies Revisited," IEW - Working Papers 351, Institute for Empirical Research in Economics - University of Zurich.
- Adrian Masters, 2008.
"Commitment, advertising and efficiency of two-sided investment in competitive search equilibrium,"
2008 Meeting Papers
260, Society for Economic Dynamics.
- Masters, Adrian, 2011. "Commitment, advertising and efficiency of two-sided investment in competitive search equilibrium," Journal of Economic Dynamics and Control, Elsevier, vol. 35(7), pages 1017-1031, July.
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