Magnification effects and acyclical real wages

Charles Carlstrom and Edward N. Gamber

No 9105, Working Papers (Old Series) from Federal Reserve Bank of Cleveland

Abstract: An analysis of a one-period, two-sector model in which firms must pay a fixed cost of hiring. The authors show that this type of model results in more employment variability and less-procyclical wages than do models without fixed hiring costs.

Keywords: Business cycles; Wages; Employment (Economic theory) (search for similar items in EconPapers)
Date: 1991
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