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Elasticity of Supply to the Firm and the Business Cycle
monopsony labor market frictions business cycles
2012/10/24
A body of recent empirical work has found strong evidence that the labor elasticity of supply to the firm is finite, implying that firms may have wage setting power. However, these studies capture onl...
Trust in Public Institutions over the Business Cycle
trust institutions confidence survey data congress banks big business media courts
2012/10/31
We document that trust in public institutions – and particularly trust in banks, business and government – has declined over recent years. U.S. time series evidence suggests that this partly reflects ...