can commit to wage contracts but cannot commit not to replace incumbent workers. Workers are risk averse, so that there …

We document substantial cross-sectional heterogeneity of German establishments' real wage cyclicality over the business … wages. We estimate a negative connection between establishments' wage cyclicality and their employment cyclicality, thereby …

This paper provides a model that can account for the almost uniform staggering of wage contracts in some countries as … ; strategic substitutability ; wage contracts ; contract duration …

Empirical and institutional evidence finds considerable time variation in the degree of wage indexation to past … build a DSGE model with endogenous wage indexation in which utility maximizing workers select a wage indexation rule in … aggregate demand shocks dominate output fluctuations. The model's equilibrium wage setting can explain the time variation in …

Membership in a monetary union implies stronger incentives for nominal wage flexibility in the form of wage indexation …-indexation to an indexation equilibrium. But more wage flexibility is only an imperfect substitute for an own monetary policy. It is … possible that an increase in wage flexibility is welfare-decreasing because of the accompanying rise in price variability. The …

transitions between labor status or jobs, whereas for those at the top, earnings changes are mainly induced by wage rate growth …

income in East Germany. The bias difference in labor market expectations explains part of the East-West German wage gap. …