Christoffel, Kai (contributor); Küster, Keith (contributor) - 2006
labor market frictions in the current European regime. In our framework, we find that labor
market structure is of prime …
environment.
Our model reproduces key features of the data by including two prominent rigidities in the labor
market. First, firms … rigidities hinder wage adjustments and shift the labor
market adjustment from prices to quantities. In the framework we propose …