MARC Record from Library of Congress

LEADER: 01805cam a22002777a 4500
001 2006619753
003 DLC
005 20060822103735.0
007 cr |||||||||||
008 060816s2006 mau sb 000 0 eng
010 $a 2006619753
040 $aDLC$cDLC
050 00 $aHB1
100 1 $aRotemberg, Julio J.
245 10 $aCyclical wages in a search-and-bargaining model with large firms$h[electronic resource] /$cJulio J. Rotemberg.
260 $aCambridge, MA :$bNational Bureau of Economic Research,$cc2006.
490 1 $aNBER working paper series ;$vworking paper 12415
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 8/16/2006.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"This paper presents a complete general equilibrium model with flexible wages where the degree to which wages and productivity change when cyclical employment changes is roughly consistent with postwar U.S. data. Firms with market power are assumed to bargain simultaneously with many employees, each of whom finds himself matched with a firm only after a process of search. When employment increases as a result of reductions in market power, the marginal product of labor falls. This fall tempers the bargaining power of workers and thus dampens the increase in their real wages. The procyclical movement of wages is dampened further if the posting of vacancies is subject to increasing returns"--National Bureau of Economic Research web site.
710 2 $aNational Bureau of Economic Research.
830 0 $aWorking paper series (National Bureau of Economic Research : Online) ;$vworking paper no. 12415.
856 40 $uhttp://papers.nber.org/papers/w12415