Labor Turnover and the Natural Rate of Unemployment: Efficiency Wage versus Frictional Unemployment.
Wage and unemployment responses to changes in economic environment are compared for efficiency wage and frictional models. Changes in aggregate demand, persistence of job-specific shocks, cost of living, and unemployment benefits are considered. Wages and unemployment move in the same direction in t...
| Main Authors: | , , |
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| Format: | Journal article |
| Jezik: | English |
| Izdano: |
1994
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