Labor Markets and Business Cycles

Labor Markets and Business Cycles

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Labor Markets and Business Cycles integrates search and matching theory with the neoclassical growth model to better understand labor market outcomes. Robert Shimer shows analytically and quantitatively that rigid wages are important for explaining the volatile behavior of the unemployment rate in business cycles.

The book focuses on the labor wedge that arises when the marginal rate of substitution between consumption and leisure does not equal the marginal product… (more)

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Book Details  


Publisher: Princeton University Press (April 12, 2010)

Format: EPUB

Page count: 208 pages

File size: 8 MB

Protection: DRM

Language: English


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