Wang, B. (2022) The fundamental surplus revisited. Review of Economic Dynamics. ISSN 1094-2025
Abstract
To generate large responses of unemployment to productivity changes requires a high elasticity of the fundamental surplus with respect to productivity. When all deductions that enter the fundamental surplus are acyclical, and the fundamental surplus does not involve endogenous variables, then the elasticity of the fundamental surplus coincides with the inverse of the fundamental surplus fraction.
Metadata
Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2022 The Author(s). Published by Elsevier Inc. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/). |
Keywords: | Search frictions; Unemployment volatility; Fundamental surplus; Wage rigidity |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > Department of Economics (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 23 Nov 2022 10:59 |
Last Modified: | 23 Nov 2022 10:59 |
Status: | Published online |
Publisher: | Elsevier |
Refereed: | Yes |
Identification Number: | https://doi.org/10.1016/j.red.2022.11.003 |