Working Paper
Magnification effects and acyclical real wages
Abstract: An analysis of a one-period, two-sector model in which firms must pay a fixed cost of hiring. The authors show that this type of model results in more employment variability and less-procyclical wages than do models without fixed hiring costs.
Access Documents
File(s):
File format is application/pdf
https://fraser.stlouisfed.org/title/working-paper-federal-reserve-bank-cleveland-4494/magnification-effects-acyclical-real-wages-494551
Description: Full text
Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Working Papers (Old Series)
Publication Date: 1991
Number: 9105