Forslund, Anders; Gottfries, Nils; Westermark, Andreas - 2006
factors in the labour market? How important is nominal wage rigidity and exchange rate policy for the evolution of real wages … and competitiveness? To answer these questions, we formulate a theoretical model of wage bargaining in an open economy and … use it to derive a simple wage equation where all parameters have clear economic interpretations. We estimate the wage …