Labor markets and business cycles
Auteur :
Shimer, Robert
Éditeur :
Princeton University Press
ISBN :
9780691140223
Date de publication :
2 mai 2010
Dimensions :
23,5 x 15,6 cm
Poids :
425 g
Format :
B315
Langue :
Anglais
Pays d'origine :
USA
Shows analytically and quantitatively that rigid wages are important for explaining the volatile behavior of the unemployment rate in business cycles. This book focuses on the labor wedge that arises when the marginal rate of substitution between consumption and leisure does not equal the marginal product of labor.