Skill Heterogeneity and Aggregation Bias Over the Business Cycle /
This paper extends the equilibrium business cycle framework to incorporate ex ante skill heterogeneity among workers. Consistent with the empirical evidence, skilled and unskilled workers in the model face the same degree of cyclical variation in real wages although unskilled workers are subject to...
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| Format: | Tidsskrift |
| Sprog: | English |
| Udgivet: |
Washington, D.C. :
International Monetary Fund,
1995.
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| Serier: | IMF Working Papers; Working Paper ;
No. 1995/122 |
| Online adgang: | Full text available on IMF |