Efficiency wages, nominal rigidities, and the cyclical behavior of real wages and marginal cost

This paper presents a model in which efficiency wages generate acyclical real wages but do not lower the sensitivity of marginal cost to output or increase price stickiness. Consideration of previous models suggests that efficiency wages are a poor source of real rigidity.

MoreLess

Year of publication:	1997
Authors:	Kiley, Michael T.
Institutions:	Federal Reserve Board (Board of Governors of the Federal Reserve System)
Subject:	Wages

freely available

Full text |

More access options

www.federalreserve.gov

Check Google Scholar

In German libraries (KVK)

I need help

More details

Extent:	text/html application/pdf
Series:	Finance and Economics Discussion Series.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 1997-24
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005393927