We study the wage growth of job stayers over the business cycle, and show that wage adjustments within a job spell … display significant history dependence. This is at odds with the spot market model, which implies that the wage growth of a … larger wage raises during expansions, and are subject to smaller wage cuts during downswings. The change in the …

and nominal wage contracts. It is assumed that the nominal hourly wage rate and the hours of work are jointly determined …

We present an empirical analysis on the New Keynesian Wage Phillips Curve (NKWPC), which is derived by Gali (2011) as a … micro-founded structural relationship between wage inflation and the unemployment rate under a sticky wage framework using …

profit-led model, non-linear differential equations lead to endogenous cycles in the wage-share-employment-space which can be …

A model is analyzed in which workers' efforts depend positively on the real wage and the unemployment rate. Due to … wage. When demand shocks occur, firms' first response is therefore to adjust output and employment. But as the unemployment … rate changes, the efficient real wage changes too. This causes firms to adjust their nominal wages and prices which in turn …

This paper aims to investigate the cyclical changes in the wage structure of the United Kingdom over the period 1972 …-2002 using the General Household Survey (GHS). Wage structure of the UK shows a cyclical pattern, which may be from the different … wage cyclicality of the top, middle and bottom percentile groups. Higher educated male workers have experienced a faster …