Parameter in production function | 0.64 | |
Discount factor | 0.985 | |
Elasticity of wage with respect to employment rate | 1.0 | |
Depreciation rate | 0.0125 | |
Wage at zero unemployment | 0.35, 1.0, 1.5, or 2.0 | |
Adjustment cost | 0.1 | |
Saving rate | 0.30 | |
Labour force | 110.0 |
Parameter in production function | 0.64 | |
Discount factor | 0.985 | |
Elasticity of wage with respect to employment rate | 1.0, 2.0, 3.0, or 4.0 | |
Depreciation rate | 0.0125 | |
Wage at zero unemployment | 0.35 | |
Adjustment cost | 0.1 | |
Saving rate | 0.30 | |
Labour force | 110.0 |
Parameter in production function | 0.64 | |
Discount factor | 0.985 | |
Elasticity of wage with respect to employment rate | 1.0 | |
Depreciation rate | 0.0125 | |
Wage at zero unemployment | 0.35 | |
Adjustment cost | 0.0 or 0.1 | |
Turnover rate | 0.5 | |
Saving rate | 0.30 | |
Labour force | 110.0 |