Now showing items 1-2 of 2
An Efficiency Wage - Imperfect Information Model of the Aggregate Supply Curve
(Munich Personal RePEc Archive, 2009-05)
This study derives a reduced-form equation for the aggregate supply curve from a model in which firms pay efficiency wages and workers have imperfect information about average wages at other firms. If specific assumptions ...
Deriving the Wage-Wage and Price-Price Phillips Curves from a Model with Efficiency Wages and Imperfect Information
This study derives reduced-form equations for the wage–wage Phillips curve and the price–price Phillips curve from firms' optimizing behavior, under the assumptions that firms pay efficiency wages and that workers' ...