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Staggered Wages, Sticky Prices, and Labor Market Dynamics in Matching Models

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Neugebauer, J., Wesselbaum, D. Staggered Wages, Sticky Prices, and Labor Market Dynamics in Matching Models. Applied Economics Quarterly, 60(3), 159-177. https://doi.org/10.3790/aeq.60.3.159
Neugebauer, Janett and Wesselbaum, Dennis "Staggered Wages, Sticky Prices, and Labor Market Dynamics in Matching Models" Applied Economics Quarterly 60.3, , 159-177. https://doi.org/10.3790/aeq.60.3.159
Neugebauer, Janett/Wesselbaum, Dennis: Staggered Wages, Sticky Prices, and Labor Market Dynamics in Matching Models, in: Applied Economics Quarterly, vol. 60, iss. 3, 159-177, [online] https://doi.org/10.3790/aeq.60.3.159

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Staggered Wages, Sticky Prices, and Labor Market Dynamics in Matching Models

Neugebauer, Janett | Wesselbaum, Dennis

Applied Economics Quarterly, Vol. 60 (2014), Iss. 3 : pp. 159–177

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University of Kiel, Kiel, Germany.

Department of Economics, University of Hamburg, Hamburg, Germany. Kiel Institute for the World Economy, DPG, EABCN.

Abstract

This paper estimates a search and matching model using Bayesian methods. We deviate from the existing literature in two ways. First, we provide a cross-country analysis by estimating the model for the United States and Australia. We document differences in structural parameters and key driving forces of business cycle fluctuations. Second, we find that staggered wages rather than sticky prices matter to fit the data.

JEL Codes: C11, E24, J6.