A Cointegration Model for Search Equilibrium Wage Formation.

In flow models of the labor market, wages are determined by negotiations between workers and employers on the surplus value of a realized match. From this perspective, this paper presents an econometric analysis of the influence of labor market flows on wage formation as an alternative to the tradit...

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Bibliografiske detaljer
Institution som forfatter: International Monetary Fund
Format: Tidsskrift
Sprog:English
Udgivet: Washington, D.C. : International Monetary Fund, 2004.
Serier:IMF Working Papers; Working Paper ; No. 2004/092
Online adgang:Full text available on IMF
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245 1 2 |a A Cointegration Model for Search Equilibrium Wage Formation. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2004. 
300 |a 1 online resource (19 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a In flow models of the labor market, wages are determined by negotiations between workers and employers on the surplus value of a realized match. From this perspective, this paper presents an econometric analysis of the influence of labor market flows on wage formation as an alternative to the traditional specification of wage equations in which unemployment represents Phillipscurve or wage-curve effects. The paper estimates a dynamic wage equation for the Netherlands using a cointegration approach. It finds that labor flows, and notably flows from outside the labor market, are important determinants of both short-run and long-run wage setting. 
538 |a Mode of access: Internet 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2004/092 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2004/092/001.2004.issue-092-en.xml  |z IMF e-Library