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Why Are Wages Smoother Than Productivity? An Industry-Level Analysis

Guillermo Ordonez and David Lagakos

No 936, 2008 Meeting Papers from Society for Economic Dynamics

Abstract: are match-specific than the skills of low-wage workers, and that job separation rates are lower for high-wage workers than low-wage workers. A calibrated version of the model accounts quite well for the facts at hand.

Date: 2008
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