Welfare costs of sticky wages when effort can respond

Mark Bils, Yong Sung Chang

Research output: Contribution to journalArticle

2 Citations (Scopus)

Abstract

We examine the impact of wage stickiness when employment has an effort as well as hours dimension. Despite wages being predetermined, the labor market clears through the effort margin. Consequently, welfare costs of wage stickiness are potentially much, much smaller.

Original languageEnglish
Pages (from-to)311-330
Number of pages20
JournalJournal of Monetary Economics
Volume50
Issue number2
DOIs
Publication statusPublished - 2003 Jan 1

Fingerprint

Sticky wages
Welfare cost
Wage stickiness
Margin
Labour market
Wages

All Science Journal Classification (ASJC) codes

  • Finance
  • Economics and Econometrics

Cite this

Bils, Mark ; Chang, Yong Sung. / Welfare costs of sticky wages when effort can respond. In: Journal of Monetary Economics. 2003 ; Vol. 50, No. 2. pp. 311-330.
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Welfare costs of sticky wages when effort can respond. / Bils, Mark; Chang, Yong Sung.

In: Journal of Monetary Economics, Vol. 50, No. 2, 01.01.2003, p. 311-330.

Research output: Contribution to journalArticle

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