such a mechanism can quantitatively account for the degree of real wage rigidity in the Bulgarian labor markets, as …

. Furthermore, working time reductions may result in an increase in wage pressure, causing unemployment to rise. …This paper extends a general equilibrium model of unemployment and working hours and evaluates the model on a 5 percent …) The wage increase was more pronounced for workers who received a larger reduction of actual hours. The conclusion is that …

security system in an economy with unemployment caused by trade unions. Using a simple two-period overlapping generations … approach, it can be shown that the trade union behavior with respect to wage setting may have favorable effects on per capita … contributions, if labor demand is sufficiently inelastic with respect to the wage rate. In contrast, if firm's labor demand reacts …

such a mechanism can quantitatively account for the degree of real wage rigidity in the Bulgarian labor markets, as …

In employment relationships, a wage is an installment payment on an implicit long-term agreement between a worker and a … firm. The price of labor that impacts firm's hiring decisions, instead, reflects the hiring wage as well as the impact of … substantially more pro-cyclical than the new-hire wage or the average wage. The strong procyclicality of the price of labor calls …

do not lead to higher downward wage flexibility and lower unemployment. However, higher employment protection …In this paper, we analyze wage sensitivity to labour market disequilibrium at a macroeconomic level in several OECD … countries. We estimate the Phillips curve and a wage equation with an error correction term à la Sargan with a novel asymmetric …

This paper studies the effects of endogenous participation on unemployment fluctuations. It shows that the wage channel …. Under Nash bargaining, this induces a countercyclical component in the wage equation. As a result, the elasticity of wage … with respect to productivity becomes smaller and hence the model can generate larger unemployment fluctuations. By …

labor more important for unemployment. I differentiate jobs based on their hiring pool and estimate their wage cyclicality …. The key finding is that wages in jobs hiring from unemployment are half as cyclical as wages in other jobs, for both … incumbent workers and new hires. To measure the effects of this on unemployment volatility, I develop a labor search model with …