General Equilibrium Wage and Price Distributions

S-Tier
Journal: Quarterly Journal of Economics
Year: 1986
Volume: 101
Issue: 4
Pages: 687-706

Authors (3)

James W. Albrecht (Georgetown University) Bo Axell (not in RePEc) Harald Lang (not in RePEc)

Score contribution per author:

2.681 = (α=2.01 / 3 authors) × 4.0x S-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

This paper extends models of search market equilibrium to incorporate general-equilibrium considerations. The model we treat is one with a single product market and a single labor market. An equilibrium distribution of prices and wages is the result of optimal price- and wage-setting behavior by firms in conjunction with optimal search by individuals. We prove the existence of a degenerate equilibrium and of a two-point dispersion equilibrium.

Technical Details

RePEc Handle
repec:oup:qjecon:v:101:y:1986:i:4:p:687-706.
Journal Field
General
Author Count
3
Added to Database
2026-01-24