Identifying inflations grease and sand effects in the labor market

An effort to distinguish inflations distortionary effects from its facilitation of adjustments to shocks when wages are rigid downward. It uses the following identification strategy: inflation-induced deviations among employers mean wage changes represent unintended intramarket distortions (sand), while inflation-induced, interoccupational wage changes reflect adjustments that might have been prevented by nominal wage rigidity (grease).

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Year of publication:	1997
Authors:	Groshen, Erica L. ; Schweitzer, Mark E.
Institutions:	Federal Reserve Bank of Cleveland
Subject:	Inflation (Finance) \| Wages

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Extent:	application/pdf
Series:	Working Paper.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 9705
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005428342