{"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":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>R\u00fcnstler, G.<\\\/span> (2009). <span>Shirking, Endogenous Lay-off Rates and the A-cyclicality of the Real Wage<\\\/span>. <span><em>WIFO Working Papers<\\\/em><\\\/span>, (350). <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/37161\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/37161<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>R\u00fcnstler G<\\\/span>. <span class=\\\"title\\\"><span>Shirking, Endogenous Lay-off Rates and the A-cyclicality of the Real Wage<\\\/span><\\\/span>. <span>WIFO Working Papers<\\\/span>. 2009 Oct;(350).<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{8cacec80fa304b0bb8e6c92d85dc1056,<\\\/div><div>  title    = \\\"Shirking, Endogenous Lay-off Rates and the A-cyclicality of the Real Wage\\\",<\\\/div><div>  abstract = \\\"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.\\\",<\\\/div><div>  keywords = \\\"Efficiency wages, shirking, real wage persistence, New Keynesian models\\\",<\\\/div><div>  author   = \\\"Gerhard R{\\\\\\\"u}nstler\\\",<\\\/div><div>  year     = \\\"2009\\\",<\\\/div><div>  month    = oct,<\\\/div><div>  language = \\\"English\\\",<\\\/div><div>  journal  = \\\"WIFO Working Papers\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - Shirking, Endogenous Lay-off Rates and the A-cyclicality of the Real Wage<\\\/p><p>AU  - R\u00fcnstler, Gerhard<\\\/p><p>PY  - 2009\\\/10<\\\/p><p>Y1  - 2009\\\/10<\\\/p><p>N2  - 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.<\\\/p><p>AB  - 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.<\\\/p><p>KW  - Efficiency wages<\\\/p><p>KW  -  shirking<\\\/p><p>KW  -  real wage persistence<\\\/p><p>KW  -  New Keynesian models<\\\/p><p>M3  - WIFO series<\\\/p><p>JO  - WIFO Working Papers<\\\/p><p>JF  - WIFO Working Papers<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","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 v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Shirking, Endogenous Lay-off Rates and the A-cyclicality of the Real Wage - WIFO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wifo.ac.at\/en\/publication\/113088\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shirking, Endogenous Lay-off Rates and the A-cyclicality of the Real Wage\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wifo.ac.at\/en\/publication\/113088\/\" \/>\n<meta property=\"og:site_name\" content=\"WIFO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/WIFOat\/\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-07T03:10:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wifo.ac.at\/wp-content\/uploads\/2024\/05\/WIFO-Gebaeude-FotoAlexanderMueller-www.alexandermueller.at-IMG_6326-Bearbeitet-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@WIFOat\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/113088\\\/\",\"url\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/113088\\\/\",\"name\":\"Shirking, Endogenous Lay-off Rates and the A-cyclicality of the Real Wage - 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