Blanco, Andres; Drenik, Andres; Moser, Christian; … - 2023
productivity shocks, wage rigidity, and two-sided lack of commitment. Due to the non-Coasean nature of labor contracts, inefficient … job separations occur in the form of endogenous quits and layoffs that are unilaterally initiated whenever a worker's wage … monetary shock based on the distribution of workers' wage-to-productivity ratios. These statistics crucially depend on the …