- Tytuł:
- A Real-Business-Cycle Model with Efficiency Wages and a Government Sector: The Case of Bulgaria
- Autorzy:
- Vasilev, Aleksandar
- Powiązania:
- https://bibliotekanauki.pl/articles/2119938.pdf
- Data publikacji:
- 2022
- Wydawca:
- Polska Akademia Nauk. Czytelnia Czasopism PAN
- Tematy:
-
general equilibrium
shirking
efficiency wages
unemployment
Bulgaria - Opis:
- In this paper we investigate the quantitative importance of efficiency wages of no-shirking type in explaining business cycle fluctuations in Bulgarian labor markets. This is done by augmenting a relatively standard real business cycle model with unobservable workers effort by employers and efficiency wage contracts, as well as through the inclusion of a detailed government sector. This imperfection in labor markets introduces a strong internal transmission mechanism that allows the model framework to capture the business cycles in Bulgarian data better than earlier models, and setups assuming perfectly- competitive labor markets in particular.
- Źródło:
-
Central European Journal of Economic Modelling and Econometrics; 2017, 4; 359-377
2080-0886
2080-119X - Pojawia się w:
- Central European Journal of Economic Modelling and Econometrics
- Dostawca treści:
- Biblioteka Nauki