The Cyclicality of Marginal Cost and the Dynamics of the Labor Market and Inflation
Mardi | 2017-12-19 Salle des thèses 16h – 17h20 Pierrick CLERC Existing business-cycle models for which firms unilaterally adjust labor along both the intensive and extensive margins have difficulties in reproducing the dynamics of employment and hours per worker. Within a New-Keynesian framework with search frictions in the labor market, we show that a much […]