The value of leisure or disutility of work: Wage dispersion in a model of search with endogenous effort

Adrian Masters

Discussion Papers from University at Albany, SUNY, Department of Economics

Abstract: Wage dispersion is generated in a sequential search environment through heterogeneity in firm productivity along with an individual wage-effort trade-off. For a given degree of TFP dispersion, the framework can generate any amount of wage dispersion. Calibrated to generate realistic gains from trade, it is able to generate the kind of wage dispersion observed in data.

Date: 2012
New Economics Papers: this item is included in nep-dge and nep-lma
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