and 67. predicated on the theoretical notion that an individual retires when his reservation wage exceeds his market wage … systematically and randomly across individuals. Market wages are derived from a standard wage equation adjusted to the special … potential selectivity bias inherent in the model (low-wage individuals tend to retire and cease reporting their market wage …

in wage growth across workers and realistic cyclical fluctuations in unemployment …

young men place greater weight on wage growth opportunities in the job and in the physically demanding jobs there are good … opportunities for wage growth, while in the repetitive jobs, wage growth is slow. The finding that young workers want to move into …

aggregate dynamics, but different distributions of unemployment durations. With the threat point for the Nash bargained wage … being a worker with zero unemployment duration, the wage with ranking is much more sensitive to changes in the tightness of …

unemployment, productivity growth and wage inequality. To show this, we construct two fictitious economies with calibrated …-faire economy (US), unemployment remains constant, but wage inequality increases more and productivity grows less due to larger …