Working Paper
Magnification effects and acyclical real wages
Abstract: An analysis of a one-period, two-sector model in which firms must pay a fixed cost of hiring. The authors show that this type of model results in more employment variability and less-procyclical wages than do models without fixed hiring costs.
Keywords: Business cycles; Wages; Employment (Economic theory);
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Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Working Papers (Old Series)
Publication Date: 1991
Number: 9105