Over the past decade, productivity-adjusted wages have grown at a slower pace in Japan than in other rich countries … felt in all advanced economies. Reforms aimed at increasing productivity in services and reducing gaps in employment … protection and benefits between regular and nonregular workers could help put Japan's wages on an upward trajectory in the medium …

-specific variable, it is known that there are K reservation wages that could be posted, but generically never more than two actually are … posted in equilibrium. What is unknown is when we get two wages, and which wages are actually posted. For an example with K … combination of posted reservation wages, depending on parameters. We also show how wages, profits, and unemployment depend on …

) with aging populations? Lower interest rates will result in higher capital-labor ratios and increased wages; higher wages … be stronger if pensions are indexed to nominal wages rather than prices. Using an overlapping generations model, the … wages to prices, provide substantial macro-insurance and shock absorption benefits. …

-induced productivity increases at the firm level, which get passed on to industry wages. Since tariff reductions were proportionately …