Krause, Michael (contributor); Lubik, Thomas A. (contributor) - 2004 - [Elektronische Ressource]
argument, we develop a dynamic general equilibrium model
with labor market frictions and search by employed and unemployed …’) jobs. Good job vacancies can be
matched with employed and unemployed job seekers, whereas firms in the bad job sector
only … hire unemployed workers. Wages are determined by Nash bargaining for each matched
job-worker unit and continuously …