Time Discount and Convex Hiring Cost
When rebargaining on wages is allowed after the worker-firm match is formed, search equilibrium with multiple hiring does not necessarily exhausts labor resources when hiring cost is convex. The level of output depends on the time discount factor of the consumer. Properties of the resulting demand-driven business cycles are studied using periodic steady state technique with comparison with the productivity cycles. Wage rate generally exhibits phase shift against marginal productivity for discount factor fluctuation in contrast to the synchronization of the productivity cycle case.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||Apr 2012|
|Date of revision:|
|Publication status:||Published in Discussion paper series (2012), 147: 1-32|
|Contact details of provider:|| Postal: 3-5-21 Midori, Otaru, 047-8501|
Web page: http://www.otaru-uc.ac.jp/dept/econ/
More information through EDIRC
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.:
- Wooders, Myrna Holtz, 1992. "Inessentiality of Large Groups and the Approximate Core Property: An Equivalence Theorem," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 2(1), pages 129-47, January.
- Robert Shimer, 2005. "The Cyclical Behavior of Equilibrium Unemployment and Vacancies," American Economic Review, American Economic Association, vol. 95(1), pages 25-49, March.
- Yashiv, Eran, 2007. "Labor Search and Matching in Macroeconomics," IZA Discussion Papers 2743, Institute for the Study of Labor (IZA).
- Yashiv, Eran, 2007. "Labor search and matching in macroeconomics," European Economic Review, Elsevier, vol. 51(8), pages 1859-1895, November.
- Yashiv, E., 1999.
"The Determinants of Equilibrium Unemployment,"
36-99, Tel Aviv.
- Eran Yashiv, 2005.
"Evaluating the Performance of the Search and Matching Model,"
CEP Discussion Papers
dp0677, Centre for Economic Performance, LSE.
- Yashiv, Eran, 2006. "Evaluating the performance of the search and matching model," European Economic Review, Elsevier, vol. 50(4), pages 909-936, May.
- Yashiv, Eran, 2006. "Evaluating the Performance of the Search and Matching Model," IZA Discussion Papers 1931, Institute for the Study of Labor (IZA).
- Arindrajit Dube & Suresh Naidu & Michael Reich, 2007. "The Economic Effects of a Citywide Minimum Wage," ILR Review, Cornell University, ILR School, vol. 60(4), pages 522-543, July.
- Pissarides, Christopher A, 1985. "Short-run Equilibrium Dynamics of Unemployment Vacancies, and Real Wages," American Economic Review, American Economic Association, vol. 75(4), pages 676-90, September.
- Card, David & Krueger, Alan B, 1994.
"Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New Jersey and Pennsylvania,"
American Economic Review,
American Economic Association, vol. 84(4), pages 772-93, September.
- David Card & Alan B. Krueger, 1993. "Minimum Wages and Employment: A Case Study of the Fast Food Industry in New Jersey and Pennsylvania," NBER Working Papers 4509, National Bureau of Economic Research, Inc.
- Canova, Fabio, 1993.
"Detrending and Business Cycle Facts,"
CEPR Discussion Papers
782, C.E.P.R. Discussion Papers.
- Blatter, Marc & Muehlemann, Samuel & Schenker, Samuel, 2012.
"The costs of hiring skilled workers,"
European Economic Review,
Elsevier, vol. 56(1), pages 20-35.
- Gary Hansen, 2010.
"Indivisible Labor and the Business Cycle,"
Levine's Working Paper Archive
233, David K. Levine.
- Canova, Fabio, 1998. "Detrending and business cycle facts: A user's guide," Journal of Monetary Economics, Elsevier, vol. 41(3), pages 533-540, May.
- Eran Yashiv, 2007. "Labor Search and Matching in Macroeconomics," CEP Discussion Papers dp0803, Centre for Economic Performance, LSE.
- Ricardo Lagos, 2000. "An Alternative Approach to Search Frictions," Journal of Political Economy, University of Chicago Press, vol. 108(5), pages 851-873, October.
When requesting a correction, please mention this item's handle: RePEc:ota:busdis:10252/4850. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Miura, Chiho)
If references are entirely missing, you can add them using this form.