The American Economic Review, Volume 97American Economic Association., 2007 |
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Página 656
... Optimal Real Wage ( ŵ , ) to a 25 - BASIS - POINT DECLINE IN FED FUNDS RATE Notes : Solid lines are the responses of the aggregate real wage and solid lines - plus asterisks are the responses of the optimal real wage . FIGURE 18. MODEL ...
... Optimal Real Wage ( ŵ , ) to a 25 - BASIS - POINT DECLINE IN FED FUNDS RATE Notes : Solid lines are the responses of the aggregate real wage and solid lines - plus asterisks are the responses of the optimal real wage . FIGURE 18. MODEL ...
Página 1029
... optimal competitive equilibrium and the pricing equilibrium . The average wage in the firm- optimal competitive equilibrium is [ 0 + ( △ 2 1 ) + 2 ] / 3 = ( 42 + 1 ) / 3 . The average wage in the pricing equilibrium is 1 , since both ...
... optimal competitive equilibrium and the pricing equilibrium . The average wage in the firm- optimal competitive equilibrium is [ 0 + ( △ 2 1 ) + 2 ] / 3 = ( 42 + 1 ) / 3 . The average wage in the pricing equilibrium is 1 , since both ...
Página 1441
... optimal contract infeasible . When 8 < 1 , since all but the first constraint are slack , the Principal could send some very unin- formative messages to the Agent and still be able to implement the optimal contract . When , on the other ...
... optimal contract infeasible . When 8 < 1 , since all but the first constraint are slack , the Principal could send some very unin- formative messages to the Agent and still be able to implement the optimal contract . When , on the other ...
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EDMUND S PHELPS | 541 |
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ALMA COHEN AND LIRAN EINAV | 745 |
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