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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 …
Persistent link: https://www.econbiz.de/10013212779
We analyse the implications of habit formation relating to wages in a multi-period efficiency-wage model. If employees …. Greater intensity does not necessarily have the same consequences, because wage adjustments counteract the initial level … impact. The firm's response additionally depends on the wage-dependency of dismissal costs since such costs make an …
Persistent link: https://www.econbiz.de/10012828115
In this paper we present an extension of the Taylor model with staggered wages in which wage-setting is also influenced … inflation and the extent of real wage rigidity but that these effects depend on the definition of reference norms (e.g. how … wages in Austria from 1980 to 2006 we show that wage-setting is strongly influenced by reference norms, that the wages of …
Persistent link: https://www.econbiz.de/10012763968
lead price-setting firms to negotiate wage rates with their employees. The negotiation of wages substantially increases …
Persistent link: https://www.econbiz.de/10013317251
consider the following modeling setups: right-to-manage bargaining vs. efficient bargaining, wage stickiness in new and … existing matches, interactions at the firm level between price and wage-setting, alternative forms of hiring frictions, search … volatile inflation. Models with wage stickiness and right-to-manage bargaining or with firm-specific labour emerge as the most …
Persistent link: https://www.econbiz.de/10014208182
importance of wage bargaining above the firm level, the automatic system of index-linking wages to past inflation, the limited … employment reaction of Belgian firms. On the contrary, employment is safeguarded by the presence of many small firms and a wage …
Persistent link: https://www.econbiz.de/10013141681
transitions between labor status or jobs, whereas for those at the top, earnings changes are mainly induced by wage rate growth …
Persistent link: https://www.econbiz.de/10013224084
, search for employers, and residual wage shocks to account for these life cycle wage dynamics. We highlight the importance of … largest part of life cycle wage dynamics. It accounts for 50% of average wage growth, 50% of rising differences between gender …
Persistent link: https://www.econbiz.de/10012897647
The canonical supply-demand model of the wage returns to skill has been extremely influential; however, it has faced …
Persistent link: https://www.econbiz.de/10013217553
This paper provides new insights into expectation-driven cycles by estimating a structural VAR with time-varying coefficients and stochastic volatility, as in Cogley and Sargent (2005) and Primiceri (2005). We use survey-based expectations of the unemployment rate to measure expectations of...
Persistent link: https://www.econbiz.de/10013025015