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stock prices even though TFP does not change significantly for more than 2 years. A labor search model in which wages are …‐finding rates. The proposed wage rule is consistent with empirical responses of wages to both anticipated and unanticipated …
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An important issue facing policymakers is the degree to which fluctuations in economic activity affect employment in large and small businesses across sectors and regions. These issues are particularly relevant for developing countries, as they matter for the understanding of the labour market...
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