On the quantitative importance of wage bargaining models

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Costain, James S.. On the quantitative importance of wage bargaining models. 1998
To cite or link this document: http://hdl.handle.net/10230/966
dc.contributor.author Costain, James S.
dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
dc.date.issued 1998-01-01
dc.identifier.uri http://hdl.handle.net/10230/966
dc.description.abstract Four general equilibrium search models are compared quantitatively. The baseline framework is a calibrated macroeconomic model of the US economy designed for a welfare analysis of unemployment insurance policy. The other models make three simple and natural specification changes, regarding tax incidence, monopsony power in wage determination, and the relevant threat point. These specification changes have a major impact on the equilibrium and on the welfare implications of unemployment insurance, partly because search externalities magnify the effects of wage changes. The optimal level of unemployment insurance depends strongly on whether raising benefits has a larger impact on search effort or on hiring expenditure.
dc.language.iso eng
dc.relation.ispartofseries Economics and Business Working Papers Series; 262
dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.title On the quantitative importance of wage bargaining models
dc.type info:eu-repo/semantics/workingPaper
dc.date.modified 2016-06-04T02:50:20Z
dc.subject.keyword Microeconomics
dc.subject.keyword wage bargaining
dc.subject.keyword search
dc.subject.keyword matching
dc.subject.keyword unemployment insurance
dc.subject.keyword tax incidence
dc.subject.keyword monopsony
dc.subject.keyword threat point
dc.rights.accessRights info:eu-repo/semantics/openAccess

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