Krause, Michael (contributor); Lubik, Thomas A. (contributor) - 2003 - [Elektronische Ressource]
does not necessarily
move with real wages.
JEL CLASSIFICATION: E24, E32, J64
KEYWORDS: Labor Market, Real Wage, Search and … inflation. However, in
a neoclassical labor market, real wages are strongly procyclical unless an implausible degree
of … efficiency wages or search and matching frictions,
are likely to be important. Furthermore, they may provide an additional …