Replication data for: The Limited Influence of Unemployment on the Wage Bargain

Principal Investigator(s):  View help for Principal Investigator(s) Robert E. Hall; Paul R. Milgrom

Version:  View help for Version V1

Name File Type Size Last Modified
HM.xls application/vnd.ms-excel 670.5 KB 10/12/2019 04:32:AM
HMF.m text/plain 783 bytes 10/12/2019 04:32:AM
HMFNash.m text/plain 649 bytes 10/12/2019 04:32:AM
HMmain.m text/plain 2.1 KB 10/12/2019 04:32:AM
LICENSE.txt text/plain 14.6 KB 10/12/2019 04:32:AM
README.doc application/msword 23.5 KB 10/12/2019 04:32:AM
README.pdf application/pdf 6.4 KB 10/12/2019 04:32:AM
pi.xls application/vnd.ms-excel 15.5 KB 10/12/2019 04:32:AM

Project Citation: 

Hall, Robert E., and Milgrom, Paul R. Replication data for: The Limited Influence of Unemployment on the Wage Bargain. Nashville, TN: American Economic Association [publisher], 2008. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113263V1

Project Description

Summary:  View help for Summary When a job-seeker and an employer meet, find a prospective joint surplus, and bargain over the wage, conditions in the outside labor market, including especially unemployment, may have limited influence. The job-seeker's only credible threat during bargaining is to hold out for a better deal. The employer's threat is to delay bargaining. Consequently, the outcome of the bargain depends on the relative costs of delays to the parties, rather than on the payoffs that result from exiting negotiations. Modeling bargaining in this way makes wages less responsive to unemployment. A stochastic model of the labor market with credible bargaining and reasonable parameter values yields larger employment fluctuations than does the standard Mortensen-Pissarides model. (JEL J22, J23, J31, J64)

Scope of Project

JEL Classification:  View help for JEL Classification
      J22 Time Allocation and Labor Supply
      J23 Labor Demand
      J31 Wage Level and Structure; Wage Differentials
      J64 Unemployment: Models, Duration, Incidence, and Job Search


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V1 [2019-10-12]

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