7,112 research outputs found
Wage rigidity, collective bargaining and the minimum wage: evidence from French agreement data.
We highlight different stylized facts concerning wage stickiness. First, in France, the typical duration of a wage agreement is one year. Consequently, a Taylor (1980) -type model appears to reproduce appropriately the distribution of agreement durations. Some 30 percent of settlements stipulate several predetermined wage changes during the year following the date of signature of the agreement. The frequency of wage agreements is highly seasonal, but the dates at which agreements take effect are more staggered. The date at which the national minimum wage level is revised each year has a significant impact on the timetable of wage agreements, both at the firm- and at the industry-levels. Wage increases negotiated at these two levels mainly depend on the inflation regime, the firm profitability and the proportion of minimum-wage workers in the same industry.Wage Stickiness, Wage Bargaining, Minimum Wage, Downward nominal Wage Rigidity.
Report of the sensor cooler technology panel
The Sensor Cooler Technology Panel identified three major areas in which technology development must be supported in order to meet the system performance requirements for the Astrotech 21 mission set science objectives. They are: long life vibration free refrigerators; mechanical refrigeration for 2 K to 5 K; and flight testing of emerging prototype refrigerators. A development strategy and schedule were recommended for each of the three areas
Effects of Helium Phase Separation on the Evolution of Extrasolar Giant Planets
We build on recent new evolutionary models of Jupiter and Saturn and here
extend our calculations to investigate the evolution of extrasolar giant
planets of mass 0.15 to 3.0 M_J. Our inhomogeneous thermal history models show
that the possible phase separation of helium from liquid metallic hydrogen in
the deep interiors of these planets can lead to luminosities ~2 times greater
than have been predicted by homogeneous models. For our chosen phase diagram
this phase separation will begin to affect the planets' evolution at ~700 Myr
for a 0.15 M_J object and ~10 Gyr for a 3.0 M_J object. We show how phase
separation affects the luminosity, effective temperature, radii, and
atmospheric helium mass fraction as a function of age for planets of various
masses, with and without heavy element cores, and with and without the effect
of modest stellar irradiation. This phase separation process will likely not
affect giant planets within a few AU of their parent star, as these planets
will cool to their equilibrium temperatures, determined by stellar heating,
before the onset of phase separation. We discuss the detectability of these
objects and the likelihood that the energy provided by helium phase separation
can change the timescales for formation and settling of ammonia clouds by
several Gyr. We discuss how correctly incorporating stellar irradiation into
giant planet atmosphere and albedo modeling may lead to a consistent
evolutionary history for Jupiter and Saturn.Comment: 22 pages, including 14 figures. Accepted to the Astrophysical Journa
Directed search in the housing market
In this paper, we present a directed search model of the housing market. The pricing mechanism we analyze reflects the way houses are bought and sold in the United States. Our model is consistent with the observation that houses are sometimes sold above, sometimes below and sometimes at the asking price. We consider two versions of our model. In the first version, all sellers have the same reservation value. In the second version, there are two seller types, and type is private information. For both versions, we characterize the equilibrium of the game played by buyers and sellers, and we prove efficiency. Our model offers a new way to look at the housing market from a search-theoretic perspective. In addition, we contribute to the directed search literature by considering a model in which the asking price (i) entails only limited commitment and (ii) has the potential to signal seller type
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