The Fundamental Surplus Revisited

Bingsong Wang

No 2022021, Working Papers from The University of Sheffield, Department of Economics

Abstract: To generate large responses of unemployment to productivity changes requires a high elasticity of the fundamental surplus with respect to productivity. When all deductions that enter the fundamental surplus are acyclical, and the fundamental surplus does not involve endogenous variables, then the elasticity of the fundamental surplus coincides with the inverse of the fundamental surplus fraction.

Keywords: the fundamental surplus; search frictions; labor market volatility; real wage rigidity (search for similar items in EconPapers)
JEL-codes: E24 E32 J31 J41 J63 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2022-11
New Economics Papers: this item is included in nep-dge and nep-lma
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.sheffield.ac.uk/economics/research/serps First version, November 2022 (application/pdf)

Related works:
Journal Article: The fundamental surplus revisited (2023)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:shf:wpaper:2022021

Access Statistics for this paper

More papers in Working Papers from The University of Sheffield, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Mike Crabtree ().