Optimal Public Sector Wages

I build a dynamic stochastic general equilibrium model with search and matching frictions to determine the optimal public sector wage policy. Public sector wages are crucial in achieving efficient allocation of jobs. High wages induce too many unemployed to queue for public sector jobs, in turn rais...

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Bibliographic Details
Published in:The Economic journal (London) 2015-09, Vol.125 (587), p.1425-1451
Main Author: Gomes, Pedro
Format: Article
Language:English
Subjects:
Equilibrium
General economic equilibrium
Public sector
Queuing theory
Stochastic models
Studies
Unemployed people
Unemployment
Volatility
Wage policy
Wages
Wages & salaries
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