Shirking, Unemployment and Aggregate Fluctuations
在真实商业周期模型中引入效率工资的偷懒模型，模拟发现该模型能减弱但未消除真实工资的顺周期波动，有助于理解工资刚性与经济波动的关系。
Empirically, real wages exhibit relatively little cyclical variation and a weak cyclical pattern. Early real business cycle (RBC) models predict, to the contrary, large, procyclical real wage movements. Incorporating efficiency wages into a RBC environment would seem promising since one prediction from the efficiency wage literature is real wage rigidity. This paper evaluates a common microfoundation for efficiency wages, the shirking model, with respect to its predictions for real wages within a RBC‐style model. Simulations of the model reveal that it can generate dampened but still strongly procyclical real wage behavior.