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UID:cd0ab36ee679190dd61f0e393c3bb2da
CATEGORIES:Seminars
CREATED:20240614T072658
SUMMARY:Lunch Seminar: Julio Blanco - FED Atlanta
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:\n\nHow does inflation “Grease the Wheels” in a frictional labor market?\n\
 n\nAbstract:\nThis paper studies the role of inflation in greasing the whee
 ls 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 worke
 r heterogeneity, endogenous quits and layoffs, on-the-job search, and on-th
 e-job wage renegotiation. Renegotiation costs, together with the requiremen
 t of mutual agreement, lead to a state-dependent process for on-the-job wag
 e renegotiation. We parametrize the model to match important features of th
 e distribution of wage changes within jobs and across jobs measured with ad
 ministrative microdata. The new framework reproduces the anatomy of labor m
 arket dynamics during inflation surges, such as the ones observed in Argent
 ina's 2001 inflation episode.\n
DTSTAMP:20260617T205515Z
DTSTART:20240702T130000Z
DTEND:20240702T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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