Search Results - subject:"rigidity"

The cost of wage rigidity

Faia, Ester; Pezone, Vincenzo - In: The review of economic studies : RES 91 (2024) 1, pp. 301-339

Persistent link: https://www.econbiz.de/10014528585

Oligopolistic competition, price rigidity, and monetary policy

Ueda, Kozo; Watanabe, Kota - 2023

Persistent link: https://www.econbiz.de/10014331908

A forward-looking tracker of negotiated wages in the euro area : Eurosystem wage tracker experts

Górnicka, Lucyna (ed.); Koester, Gerrit (ed.) - 2024

This paper introduces innovative, newly developed forward-looking indicators of negotiated wage growth in the euro area using data on collective bargaining agreements from seven countries: Germany, France, Italy, Spain, the Netherlands, Austria and Greece. The paper demonstrates how...

Persistent link: https://www.econbiz.de/10014471099

Downward price rigidities and inflationary relative demand shocks

Bonam, Dennis; Hobijn, Bart - 2024

this mechanism in practice we provide evidence on the downward rigidity of person-to-person service prices during the Covid …

Persistent link: https://www.econbiz.de/10014515717

Staggered contracts and unemployment during recessions

Adamopoulou, Effrosyni; Díez-Catalán, Luis; … - 2024

This paper studies the impact of downward wage rigidity on wage and employment dynamics after the outbreak of major … recessions in Spain. Downward wage rigidity stems from collective agreements, which set province-sector-skill specific minimum … wage rigidity translated into higher wage growth mainly among workers with wages close to the floors. Consequently, these …

Persistent link: https://www.econbiz.de/10014566234

Trade liberalization, wage inequality, and monetary policy

Lechthaler, Wolfgang; Mileva, Mariya - In: Journal of international money and finance 143 (2024), pp. 1-18

Persistent link: https://www.econbiz.de/10014551378

Optimal monetary policy and the time-dependent price and wage Phillips curves : an international comparison

Di Bartolomeo, Giovanni; Serpieri, Carolina - 2024

Persistent link: https://www.econbiz.de/10014551413

Why wages don't fall in jobs with incomplete contracts

Fongoni, Marco; Schaefer, Daniel; Singleton, Carl - 2024

We investigate how the incompleteness of an employment contract - discretionary and non-contractible effort - can affect an employer's decision about cutting nominal wages. Using matched employer-employee payroll data from Great Britain, linked to a survey of managers, we find support for the...

Persistent link: https://www.econbiz.de/10014557595

Downward nominal rigidities and bond premia

Gourio, François; Ngo, Phuong - 2024

We develop a parsimonious New Keynesian macro-finance model with downward nominal rigidities to understand secular and cyclical movements in Treasury bond premia. Downward nominal rigidities create state-dependence in output and inflation dynamics: a higher level of inflation makes prices more...

Persistent link: https://www.econbiz.de/10014505834

How cyclical is the user cost of labor?

Kudlyak, Marianna - 2024

In employment relationships, a wage is an installment payment on an implicit long-term agreement between a worker and a firm. The price of labor that impacts firm's hiring decisions, instead, reflects the hiring wage as well as the impact of economic conditions at the time of hiring on future...

Persistent link: https://www.econbiz.de/10014507553

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