Wage-vacancy contracts and multiplicity of equilibria in a directed search model of the labor market
This paper studies a directed search model of the labour market, which is standard in all aspects except two. First, we allow firms to post wage–vacancy contracts advertising the number of workers they would pay as well as the payment all will receive. Second, we consider two cases: one where worker...
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| Main Authors: | , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2019
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/soe_research/2559 https://ink.library.smu.edu.sg/context/soe_research/article/3558/viewcontent/Wage_vacancy_contracts_and_multiplicity_of_equilibria_in_a_directed_search_model_av.pdf |
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| Institution: | Singapore Management University |
| Language: | English |