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Christophre Georges
''An Efficiency Wage Model With Persistent Cycles''
( 2002, Vol. 5 No.3 )
This note develops an efficiency wage model which displays persistent cycles under perfect foresight. Limit cycles arise from the dependence of current labor supply on both recent labor market conditions and the expected rate of job creation.
JEL: E3 - Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)
C6 - Mathematical Methods and Programming: General
Manuscript Received : Jan 10 2002 Manuscript Accepted : Apr 06 2002

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