This paper explores the concept of profit sharing as a prospective source of labour income. The paper suggests a paradigm shift: a synthesis of differing perspectives in wage formation to redefine the concept of labour income. The proposed arrangements attempt to conceptualise the productive...

This paper investigates labor and profit share trends across Advanced Economies. It shows that Real Estate is the primary driver of declining labor shares outside the US. Excluding Real Estate, non-US labor and profit shares have remained relatively stable since the 1970s. By contrast, the US...

This paper reviews recent approaches to modeling the labour market, and assesses their implications for inflation dynamics through both their effect on marginal cost and on price-setting behavior. In a search and matching environment, we consider the following modeling setups: right-to-manage...

In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions affect the transmission process of monetary policy. The...

This paper reviews recent approaches to modeling the labour market and assesses their implications for in.ation dynamics through both their effect on marginal cost and on price-setting behaviour. In a search and matching environment, we consider the following modeling setups: right-to-manage...

Efficient routines for multidimensional numerical integration are provided by quasi-Monte Carlo methods. These methods are based on evaluating the integrand at a set of representative points of the integration area. A set may be called representative if it shows a low discrepancy. However, in...

In the paper, some empirical results from a macroeconometric disequilibrium model for the Federal Republic of Germany are reported. In the theoretical model, a delayed adjustment of employment and investment is analyzed. Market disequilibrium is introduced by allowing for a sluggish adjustment...