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Time-varying degree of wage indexation and the New Keynesian Wage Phillips Curve
Attey, Jonathan A. - 2016
Cost-of-Living-Adjustment (COLA) coverage figures suggest a time variation in the degree of wage indexation. In spite of this observation, most current literature conveniently assume a constant degree of indexation as this variable is not directly observable. This study intends to empirically...
Persistent link: https://www.econbiz.de/10011563079
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The pace of structural change, cyclical shocks and unemployment dynamics : simulations using an empirical flow model
Butter, Frank A. G. den; Dijk, Mark van - 1997
increase in the pace of job creation and destruction may have substantial effects on employment and unemployment;the effects … may be out of its unemployment equilibrium for quite a long time after a shock occurs.The novelty of the model is that it … takes explicitly account of the propagationof shocks through the various duration classes of unemployment andallows for …
Persistent link: https://www.econbiz.de/10010336861