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Studies of public-private and foreign-domestic wage differentials face difficultiesdistinguishing ownership effects …
Persistent link: https://www.econbiz.de/10005861527
Firms hiring fresh graduates face uncertainty on the future productivity of workers. Intuitively,one expects starting wages to reflect this. Formal analysis supports the intuition...
Persistent link: https://www.econbiz.de/10005861871
A major criticism against staggered nominal contracts is that they give rise to the so called"persistency puzzle" – although they generate price inertia, they cannot account for thestylised fact of inflation persistence. It is thus commonly asserted that, in the context of thenew Phillips curve...
Persistent link: https://www.econbiz.de/10005863257