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A new Keynesian analysis of industrial employment fluctuations
(2009) Documento de trabajo / Lan gaiak,
This paper describes a model with sticky prices, search frictions and hours-clearing wages that provides firm differentiation across several dimensions: price, output, wage, employment and hours per worker. The connection ...
On firm-level, industry-level, and aggregate employment fluctuations
(2013) Documento de trabajo / Lan gaiak,
Employment fluctuations are examined, at different levels of aggregation, in a dynamic model that provides firm-specific hiring decisions due to search frictions and sticky pricing. The results indicate that firm-level ...