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Institutions, Informality, and Wage Flexibility : Evidence From Brazil

Carvalho Filho, Irineu E. - 2012

institutional changes introduced by the 1988 Constitution lowered the sensitivity of real wages to changes in labor market slack and …

Persistent link: https://www.econbiz.de/10014396829

Explaining Unemployment in Spain : Structural Change, Cyclical Fluctuations, and Labor Market Rigidities

Franks, Jeffrey Richard - 1994

Spain has the most serious and persistent unemployment problem in Europe, with an unemployment rate that reached 24.6 percent in early 1994. This paper explores the characteristics of this unemployment problem, its causes, and provides a brief discussion of recent labor market reform measures...

Persistent link: https://www.econbiz.de/10014398071

The Role of Labor Market Rigidities During the Transition : Lessons From Poland

Pujol, Thierry - 1996

costly labor adjustment indicates that relative price shocks can induce overall output decline because rigid sectoral real …

Persistent link: https://www.econbiz.de/10014398098

Are the Unemployed Unemployable?

Saint-Paul, Gilles - 1994

This paper develops a matching model of the labor market under wage rigidity when hiring decisions are irreversible. There are two types of workers, the skilled and the unskilled. The model is used to analyze whether technological advances may have increased unemployment. It is shown that it is...

Persistent link: https://www.econbiz.de/10014398139

Wage Contracts, Capital Mobility, and Macroeconomic Policy

Agénor, Pierre-Richard - 1995

This paper examines the long-run effects of macroeconomic policy shocks on the behavior of output, inflation, real … wages and the real exchange rate in a small open economy. The analysis is based on a two-sector, three-good optimizing model … with imperfect capital mobility, nominal wage contracts with backward- or forward-looking price expectations, and …

Persistent link: https://www.econbiz.de/10014398713

Fiscal consolidation and public wages

Chang, Juin-jen; Lin, Hsieh-Yu; Traum, Nora; Yang, … - 2019

wage reductions decrease private wages. Model counterfactuals show that sufficiently rigid nominal private wages can …

Persistent link: https://www.econbiz.de/10012102036

Youth unemployment in Uruguay

Torres, Jose; McKenzie, Sidonia - 2020

Uruguay enjoys favorable social outcomes, and its labor indicators are comparable to other Latin American countries, but its youth unemployment is one of the highest in the world. To help understand this duality, we employ synthetic panels from repeated household surveys for LA6 countries from...

Persistent link: https://www.econbiz.de/10012486068

Endogenous growth, downward wage rigidities and optimal inflation

Abbritti, Mirko; Consolo, Agostino; Weber, Sebastian - 2021

Standard New Keynesian (NK) models feature an optimal inflation target well below two percent, limited welfare losses from business cycle fluctuations and long-term monetary neutrality. We develop a NK framework with labour market frictions, endogenous productivity and downward wage rigidity...

Persistent link: https://www.econbiz.de/10012605466

The Wage-Price Spiral : Industrial Country Evidence and Implications

Kandil, Magda E. - 2003

nominal wage and price adjustments in the face of aggregate demand shocks. The evidence illustrates patterns of the wage …-price spiral and accompanying fluctuations. During economic expansions, the overlap of nominal adjustments in labor and product … institutional settings appear to have moderated the severity of the effects of contractionary demand shocks on real output growth …

Persistent link: https://www.econbiz.de/10014399677

Wage Flexibility and Economic Performance : Evidence Across Industrial Countries

Kandil, Magda E. - 2000

This paper provides new empirical evidence on the degree of nominal wage flexibility in a sample of nineteen industrial … flexibility stabilizes fluctuations in real output and guarantees workers a higher real standard of living in response to … aggregate demand shocks. Wage flexibility in response to energy price shocks guarantees workers higher real wages without …

Persistent link: https://www.econbiz.de/10014399867