STABLE SETS AND STEADY WAGES

John Moore

Scottish Journal of Political Economy, 2007, vol. 54, issue 5, 721-730

Abstract: This paper uses the notion of the Stable Set, in conjunction with a mild restriction on the extent to which a firm can quickly replace its entire workforce, to explain equal treatment across workers within a firm yet wage differentials across firms, and why a firm responds with quantity rather than with wage adjustments to shocks.

Date: 2007
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