Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/95335 
Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
Quaderni di Dipartimento No. 168
Verlag: 
Università degli Studi di Pavia, Dipartimento di Economia Politica e Metodi Quantitativi (EPMQ), Pavia
Zusammenfassung: 
Recent U.S. evidence suggests that the response of the labor share to a productivity shock is characterized by countercyclicality and overshooting. These findings cannot be easily reconciled with existing business cycle models. We extend the standard model of search and matching in the labor market by considering strategic interactions among an endogenous number of producers. This leads to countercyclical price markups. While Nash bargaining is sufficient to capture the labor share countercyclicality, we show that countercyclical markups are key to address the overshooting.
Schlagwörter: 
Endogenous Market Structures
Oligopolistic Competition
Firms' Entry
Search and Matching Frictions
Labor Share Overshooting
JEL: 
E24
E32
L11
Dokumentart: 
Working Paper

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