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I think I meant that absent artificial frictions like labor protections, the impacts would be symmetric.
But even with labor protections, I imagine that some kind of equivalence would still result under rational expectations models. I don't think it's obvious, it's more like my intuition tells me that only one allocation of surplus would be admissible in equilibrium
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I think I see what you're getting at. Do you think differences in risk aversion between firms and workers would actually make the incidence matter?
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yes I can see that too. if utility is not linearly transferable then my guess is you'd lose equivalence
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Aren't labor protections asymmetric? What would be the equivalent on the other side?
I just woke up, so maybe my brain is missing something obvious.