yes I can see that too. if utility is not linearly transferable then my guess is you'd lose equivalence

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?

Undisciplined

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

bitcoin

econ

Speculating about bitcoin-standard wages

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