vacancies) divided by the volatility of labor productivity is roughly twice as large as in the United States. We derive and … simulate a simple dynamic labor market model with heterogeneous worker productivity. This model is able to explain the higher …

employment alongside inflation …

model to explain the natural rate of unemployment and non-wage employment costs, to show the impact of reform on the short … and employment generation are quite different: tax reforms are more effective for welfare, but market liberalisation for … employment. …

inclusion of productivity shocks in standard New Keynesian Phillips Curve (NKPC). The question of interest is on the empirical … importance of and whether productivity shocks shift the Phillips curve using U.S. and Euro area data. Highlighting the inclusion … of productivity growth, we employ a hybrid model specification augmented with a productivity term. The model is estimated …

in productivity. Second, before fixing the real exchange rate it seems crucial that it is on its sustainable (competitive … to sustainable prosperity seems to follow the path of productivity improvement. Forth, excessive real wage increases seem … to lead to increasing unemployment, slowdown in productivity growth, higher interest rates, and loss of competitiveness …