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UID:cd0ab36ee679190dd61f0e393c3bb2da
CATEGORIES:Seminars
CREATED:20240614T072658
SUMMARY:Lunch Seminar: Julio Blanco - FED Atlanta
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p><em><strong>How does inflation “Grease the Wheels” in a frictional labor
  market?</strong></em></p><p>Abstract:</p><p style="text-align: justify;">T
 his paper studies the role of inflation in greasing the wheels of the labor
  market. To do so, it unifies the theory of frictional labor markets with a
  theory of nominal wage adjustment. The model features worker heterogeneity
 , endogenous quits and layoffs, on-the-job search, and on-the-job wage rene
 gotiation. Renegotiation costs, together with the requirement of mutual agr
 eement, lead to a state-dependent process for on-the-job wage renegotiation
 . We parametrize the model to match important features of the distribution 
 of wage changes within jobs and across jobs measured with administrative mi
 crodata. The new framework reproduces the anatomy of labor market dynamics 
 during inflation surges, such as the ones observed in Argentina's 2001 infl
 ation episode.</p>
DTSTAMP:20260617T205556Z
DTSTART:20240702T130000Z
DTEND:20240702T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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