either posted wages or wage contracts contingent on outside options. Firm level costs for contingent contracts generate a … separating equilibrium in which less productive firms post wages. The model with heterogeneous contracts can achieve wage …

complementarity in firms' wage setting and workers' job search strategies. Strategic complementarity results in a continuum of … possible equilibria with higher-wage equilibria welfare dominating lower-wage equilibria. Assuming that no economic agent …

This paper reexamines wage and price dynamics in response to permanent shocks to productivity. We estimate a micro … technology and monetary policy shocks. We utilize a flexible specification for wage- and price-setting that allows for the … wage and price inflation. On the price front, we find that in our VAR inflation jumps in response to an identified …

the Current Population Survey, we find that the manufacturing wage premium--the additional pay a manufacturing worker … primarily affected workers employed in production occupations, who experienced a wage decline of 2.5 percentage points since the … union members. To quantify the role of unionization membership on wage premia, we exploit the heterogeneity in membership …

on wage flexibility in the United States and elsewhere has focused on the possibility of downward nominal wage rigidity … survey collected by the Bureau of Labor Statistics to investigate the extent to which downward nominal wage rigidity is … present in U.S. labor markets. We use several distinct methods proposed in the literature to test for downward nominal wage …