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We show that the existence of downward nominal wage rigidities bends the short-run wage Phillips curve. We introduce a model of monetary policy with downward nominal wage rigidities and show that both the slope and curvature of the Phillips curve depend on the level of inflation and the extent...
Persistent link: https://www.econbiz.de/10010635830
Persistent link: https://www.econbiz.de/10005707377
After the Great Recession, the fraction of U.S. workers whose wages were frozen reached a record high. Many employers … would have preferred to cut wages, but couldn’t do so because of the reluctance of workers to accept reduced compensation …½ years, inflation has eroded the real value of frozen wages, slowing wage growth and reducing the unemployment rate. This is …
Persistent link: https://www.econbiz.de/10011027125
Using Current Population Survey data, we find that the gap between wages by black and white males declined during the …
Persistent link: https://www.econbiz.de/10005401542
We study earnings mobility and instability using data from the Panel Study of Income Dynamics. Our main contribution is to update mobility and instability calculations to include data from the 1990s, although we also provide a number of tests of robustness across mobility and instability...
Persistent link: https://www.econbiz.de/10005514424
Using Current Population Survey data, we find that the gap between wages by black and white males declined during the …
Persistent link: https://www.econbiz.de/10010702231