Staggered Wages, Sticky Prices, and Labor Market Dynamics in Matching Models

Janett Neugebauer and Dennis Wesselbaum

Applied Economics Quarterly (formerly: Konjunkturpolitik), 2014, vol. 60, issue 3, 159-177

Abstract: This paper estimates a search and matching model using Bayesian methods. We deviate from the existing literature in two ways. First, we provide a cross-country analysis by estimating the model for the United States and Australia. We document differences in structural parameters and key driving forces of business cycle fluctuations. Second, we find that staggered wages rather than sticky prices matter to fit the data.

Keywords: Matching Models; Staggered Wages; Sticky Prices; Labor Market Dynamics (search for similar items in EconPapers)
Date: 2014
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