{"id":113088,"date":"2024-01-22T17:51:13","date_gmt":"2024-01-22T16:51:13","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/113088\/"},"modified":"2024-11-07T04:10:14","modified_gmt":"2024-11-07T03:10:14","slug":"shirking-endogenous-lay-off-rates-and-the-a-cyclicality-of-the-real-wage","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/113088\/","title":{"rendered":"Shirking, Endogenous Lay-off Rates and the A-cyclicality of the Real Wage"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-113088","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"The paper extends the Shapiro-Stiglitz (1987) efficiency wage model by endogenising the probability of worker displacement as a function of the change in the firm's employment. This creates counter-cyclical variation in the wage mark-up and thereby generates real wage persistence. A New Keynesian DSGE model equipped with this extension replicates the empirical facts of a very limited response of the real wage to the business cycle together with a lagged hump-shaped response of employment to output.","onlinedate":"2009-10-01 02:00:00","lang":"English","publication_series":"","publication_date":"20091001","publication_date_year":"","publication_date_full":false,"publication_num_pages":"30","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":334696,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"350","journal":"WIFO Working Papers","publisher":"","invisible":false,"external":false,"embargo_date":null,"types":[44410],"research_groups":[3500],"collaboration":"","persons":[4173],"persons_data":"[{\"personId\":4173,\"personName\":\"Gerhard R\u00fcnstler\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - 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