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Equilibrium Unemployment with Wage Posting: Burdett-Mortensen Meet Pissarides

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Author Info
Mortensen, D.T.

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Abstract

The wage posting approach to search equilibrium is incorporated into the equilibrium unemployment approach in the paper. The unique equilibrium to the wage posting game analysed is a distribution of wage offers of the same functional form as that originally derived by Burdett and Mortensen (1998). The synthesis is extended by allowing for match specific investment by employers. The outcome is endogenous productivity differences across jobs that are induced by equilibrium wage offer differences. Contrary to the original Burdett-Mortensen solution, the equilibrium wage offers distribution can be unimodal with a long right tail when match-specific investment are included.

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Publisher Info
Paper provided by Centre for Labour Market and Social Research, Danmark- in its series Papers with number 98-14.

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Date of creation: 1998
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Handle: RePEc:fth:clmsre:98-14

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Postal: Danmark; Centre for Labour Market and Social Research. Science Park Aarhus Wieds Vej 10C, 8000 Aarhus C, Danmark
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Keywords: MODELS ; UNEMPLOYMENT ; WAGES Research. Science Park Aarhus Wieds Vej 10C; 8000 Aarhus C; Danmark. 16p.;

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Find related papers by JEL classification:
J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
J64 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Unemployment: Models, Duration, Incidence, and Job Search
J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts
D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information

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  1. Giuseppe Bertola & Pietro Garibaldi, 2001. "Wages and the Size of Firms in Dynamic Matching Models," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(2), pages 335-368, April. [Downloadable!] (restricted)
    Other versions:
  2. Alok Kumar, 2004. "Inflation and the Dispersion of Real Wages," Econometric Society 2004 Far Eastern Meetings 750, Econometric Society. [Downloadable!]
    Other versions:
  3. Cahuc, Pierre & Postel-Vinay, Fabien & Robin, Jean-Marc, 2003. "Wage Bargaining with On-The-Job Search: Theory and Evidence," CEPR Discussion Papers 4154, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  4. Mathias, HUNGERBUEHLER, 2004. "Tax Progression in Imperfect Labour Markets : A Survey," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2004032, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES). [Downloadable!]
  5. Morissette, René & Rosa, Julio, 2003. "Alternative Work Practices and Quit Rates: Methodological Issues and Empirical Evidence for Canada," Analytical Studies Branch Research Paper Series 2003199e, Statistics Canada, Analytical Studies Branch. [Downloadable!]
  6. Gerard J. van den Berg & Aico van Vuuren, 2002. "The Effect of Search Frictions on Wages," 10th International Conference on Panel Data, Berlin, July 5-6, 2002 C1-2, International Conferences on Panel Data. [Downloadable!]
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  7. Francesco Squintani, 1999. "On-the-Job Signaling and Self-Confidence," Discussion Papers 1274, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
  8. Postel-Vinay, Fabien & Robin, Jean-Marc, 2002. "Equilibrium Wage Dispersion with Worker and Employer Heterogeneity," CEPR Discussion Papers 3548, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  9. Galindo-Rueda, Fernando, 2002. "Endogenous Wage and Capital Dispersion, On-the-Job Search and the Matching Technology," IZA Discussion Papers 625, Institute for the Study of Labor (IZA). [Downloadable!]
  10. J. Ignacio Garcia-Perez, 2002. "Equilibrium search models: the role of the assumptions," Investigaciones Economicas, Fundación SEPI, vol. 26(2), pages 255-284, May. [Downloadable!]
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  11. Morissette, René & Zhang, Xuelin, 2001. "Quelles entreprises ont des taux de vacance élevés au Canada?," Direction des études analytiques : documents de recherche 2001176f, Statistics Canada, Direction des études analytiques. [Downloadable!]
  12. Christian Holzner & Andrey Launov, 2005. "Search Equilibrium, Production Parameters and Social Returns to Education: Theory and Estimation," IZA Discussion Papers 1904, Institute for the Study of Labor (IZA). [Downloadable!]
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  13. Postel Vinay Fabien & Robin Jean Marc, 2000. "Wage Dispersion with Heterogeneous Firm Technologies and Worker Abilities: An Equilibrium Job Search Model for Matched Employer-Employee Data," Research Unit Working Papers 0008, Laboratoire d'Economie Appliquee, INRA. [Downloadable!]
  14. Morissette, René & Zhang, Xuelin, 2001. "Which Firms Have High Job Vacancy Rates in Canada?," Analytical Studies Branch Research Paper Series 2001176e, Statistics Canada, Analytical Studies Branch. [Downloadable!]
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