Sticky Wage Models and Labor Supply Constraints
研究发现，在粘性工资模型中，工人有15%到30%的时间被迫超意愿工作，使用劳动供需最小值而非仅需求方决定劳动量会得出不同且不理想的结果，提醒注意劳动供给约束的违反。
In sticky wages models (either à la Calvo or à la Rotemberg), labor is solely determined by the demand side. However, a change of circumstances may make labor demand higher than agents’ willingness to work. We find that workers are required to work against their will between 15 percent and 30 percent of the time (with 5 percent wage markup, less with higher markups and in Rotemberg models). Estimating models with the minimum of the demand and supply of labor instead of the demand-determined quantity yields different and unappealing properties. Hence, special attention should be paid to possible violations of the labor supply constraint.