Krause, Michael (contributor); Lubik, Thomas A. (contributor) - 2003 - [Elektronische Ressource]
inflation. However, in
a neoclassical labor market, real wages are strongly procyclical unless an implausible degree
of ….54 and 0.16. Standard real business cycle models with neoclassical labor
market typically imply much higher correlations … adjustment.
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neoclassical labor markets is, however, the behavior of the real marginal cost term. In
competitive labor market …