Skip to main content
Article thumbnail
Location of Repository

1 DYNAMIC EQUILIBRIA IN WAGE BARGAINING WITH QUANTITATIVE EVIDENCE

By Renuka Metcalfe

Abstract

This paper considers dynamic equilibria in wage bargaining unifying for the …rst time the models of Coles and Wright (1998) and Pissarides and producing in contrast to the Coles and Wright model, a non-de…cient equilibrium. In sharp contrast to the Pissarides model we analyse a fully dynamic model with non-linear cost functions and risk-averse agents with empirical/quantitative evidence also for the …rst time, to provide overall, saddle-path stability and unique wage and employment outcome which is devoid of limit cycles

Topics: Wage determination, job matching, unemployment, labour markets, bargaining, dynamic analysis, existence and stability conditions of equilibrium, computational
Year: 2013
OAI identifier: oai:CiteSeerX.psu:10.1.1.352.4099
Provided by: CiteSeerX
Download PDF:
Sorry, we are unable to provide the full text but you may find it at the following location(s):
  • http://citeseerx.ist.psu.edu/v... (external link)
  • Suggested articles


    To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.