Showing 1 - 10 of 16
Persistent link: https://www.econbiz.de/10002956717
Based on a post-Keynesian model of the relationship between wages, prices and employment, this paper begins by studying the extent to which unit labour cost trends have been responsible for disinflation and deflationary tendencies in Germany and Europe. Thereafter, the reasons for the...
Persistent link: https://www.econbiz.de/10010296098
The paper questions the predominant view on unemployment and wages in the European Union according to which high unemployment is primarily caused by labour market rigidities, i.e. social institutions and regulations which prevent ?market-clearing? real wage levels and structures. It is shown...
Persistent link: https://www.econbiz.de/10010296102
Focusing on the compression of wage cuts, many empirical studies find a high degree of downward nominal wage rigidity (DNWR). However, the resulting macroeconomic effects seem to be surprisingly weak. This contradiction can be explained within an intertemporal framework in which DNWR not only...
Persistent link: https://www.econbiz.de/10010304445
Persistent link: https://www.econbiz.de/10010306761
The financial and economic crisis in the Euro area has revealed a number of important flaws in the economic policy framework in Europe. On the one hand, the imbalances, which have dominated European development since the introduction of the euro, are not sustainable; and this is more serious in a...
Persistent link: https://www.econbiz.de/10010460503
Focusing on the cost-reducing motive behind the use of temporary agency employment, this paper aims at providing a better theoretical understanding of the effects of temporary agency work on the wage-setting process, trade unions' rents, firms' profits and employment. It is shown that trade...
Persistent link: https://www.econbiz.de/10010502782
We consider a theoretical model in which unions not only take the outside option into account, but also base their wage-setting decisions on an internal reference, called the fairness reference. Wage and employment outcomes and the shape of the aggregate wagesetting curve depend on the weight...
Persistent link: https://www.econbiz.de/10009578751
We consider a theoretical model in which unions not only take the outside option into account, but also base their wage-setting decisions on an internal reference, called the fairness reference. Wage and employment outcomes and the shape of the aggregate wage-setting curve depend on the weight...
Persistent link: https://www.econbiz.de/10009581363
. Andererseits übt die damit verbundene restriktive Fiskal- und Lohnpolitik deflationären Druck auf den größten Teil des Euroraumes … Reaktionen zur Krise einzugehen. Da die vorgeschriebene Steuer- und Lohnpolitik noch durch den theoretischen Rahmen der New … keynesianischen und Post-keynesianischen Prinzipien beruht. Es wird gezeigt, dass die Stabilisierung der Lohnpolitik und aktiven …
Persistent link: https://www.econbiz.de/10009530390