Beissinger, Thomas; Knoppik, Chritoph - In: Perspektiven der Wirtschaftspolitik 6 (2005) 2, pp. 171-188
In the presence of downwardly rigid nominal wages, low inflation may lead to higher equilibrium unemployment by hindering real wage adjustments. This article surveys and analyses the growing evidence on downwardly rigid nominal wages. We not only deal with assessments of the existence and extent...
