A Repeated Game Heterogeneous-Agent Wage-Posting Model

Matej Steinbacher, Matjaz Steinbacher and Mitja Steinbacher ()

MPRA Paper from University Library of Munich, Germany

Abstract: In the paper, we simulate a heterogeneous-agent version of the wage-posting model as derived by Montgomery (1991) with homogeneous workers and differently-productive employers. Wage policy of particular employer is positively correlated with employer’s productivity level and the wage policy of the competitor. However, it is a less productive employer whose wage posting could also outweigh the posting of a more productive employer, though only temporarily.

Keywords: Job-search model; Wage posting; Heterogeneous agents; Numerical optimization (search for similar items in EconPapers)
JEL-codes: C15 C78 D83 J31 (search for similar items in EconPapers)
Date: 2009-08
New Economics Papers: this item is included in nep-cmp, nep-gth and nep-lab
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:16706

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