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In this paper a new instrument for monetary policy shocks is presented. Exogenous variation of the policy rate may come from frictions of collective decision-making. Dissenting votes indicate how far the final decision of the decision making body is from the mean of the members' individually...
Persistent link: https://www.econbiz.de/10014278494
Using a large and unexpected public wage increase in Hungary which changed the public wage premium in 2002 from -17 to +7.5 percent from one month to the next, I study wage spillovers from the public to the corporate sector. I proxy the exposure of corporate workers to the public sector with the...
Persistent link: https://www.econbiz.de/10011784383