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Sticky wages are part of the macro labor market story, but not at the center

I can recommend to you this new survey by Lars Ljungqvist and Thomas J. Sargent, just published in the American Economic Review.  The serious work on unemployment these days is using models of matching markets, and varying returns to finding matches during tough times, including recessions.  That is how to think about the job creation […] The post Sticky wages are part of the macro labor market story, but not at the center appeared first on Marginal REVOLUTION.
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