A simple framework is specified which is suitable for testing the relationship between the length of the working day and wages per hour. The relationship is tested on Norwegian manufacturing data, using both dynamic modeling and cointegration techniques. Both methods provide empirical support...

The non-accelerating wage rate of unemployment (NAWRU indicator), used by the OECD as a measure of structural unemployment, has risen for the four Nordic countries Denmark, Finland, Norway and Sweden. In this paper we present stable empirical wage equations for the same countries over the period...

The determinants of Norwegian import prices of manufactures are investigated over the period 1970(1)-1991(4). Multivariate cointegration analysis establishes a long-run relationship between import prices, foreign prices, the exchange rate, and domestic unit labor costs. Normalized on import...

This paper analyzes how firms can use job security as an incentive mechanism. The author examines how "macroeconomic job security" (measured by the reemployment probability) may affect productivity differently from "microeconomic job security" (measured by the probability of being retained). The...

This paper analyzes the "chain" of transmission mechanisms of economic policy actions to financial markets, output and employment, and, finally, unemployment--in an attempt to identify "remaining puzzles" and "neglected issues" in macroeconomics. The paper emphasizes the consequences of fiscal...

This paper explores a variety of government policies that can stimulate employment when unemployment is generated through conflicts of interest between insiders and outsiders. It also provides guidelines for identifying polices that may be ineffective. The authors show how supply-side policies...