Countercyclical Endogenous Uncertainty Shocks, Efficiency Wages and Procyclical Precautionary Labor Productivity

Author:

Grandmont Jean-Michel

Publisher

Elsevier BV

Reference50 articles.

1. Endogenous Procyclicality of Labor Productivity, Employment, Real Wages and Effort in Conditionally Heteroskedastic Sunspots Unemployment Business Cycles With Negishi-Solow Efficiency Wages

2. Parts of this work have been presented in various venues (Graig Hiemstra Memorial Lecture;Economic Dpt;Portuguese Economics Journal Annual Meeting,2016

3. The Complete Works of Antoine Augustin Cournot

4. if c 3 ? (c) < 0 at the steady state c * , i.e. under the same inequalities (20) over (? 1 , ? 2 ), provided that R V (x * ) < 1. By contrast, one will get dc/dv ? > 0 if R V (x * ) > 1 and if c 3 ? (c) > 0 at c = c * . A sufficient condition for that is that c 3 U (c) is increasing;Similarly, one will get dc/dv ? < 0, hence d� c t+1,w /d? t > 0 under assumption (3.b)

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