This paper provides an empirical investigation into the determinants and stability of the aggregate wage inflation … process in the United States over the 1967-2000 period. Using compensation per hour as the measure of wages, we specify a … Phillips curve model that links wage growth to its past values as well as to the unemployment rate, price inflation, labor …

enforces full compensation of price shocks through higher wages leads to high inflation and ultimately to harsh restrictive … Ausgleich von Preisschocks durchsetzt, zu hoher Inflation und letztlich zu harter restriktiver Geldpolitik mit Arbeitslosigkeit … side of capital. The experience of the inflation wave and oil price shocks of the 1970s shows that a wage policy that …

wages to increase beyond productivity increases. The augmented Balassa-Samuelson model is extended to trace cyclical …

increases from the tradable to the non-tradable sector and to cause real wages to increase beyond productivity increases. Panel …

wages to increase beyond productivity increases. The augmented Balassa-Samuelson model is extended to trace cyclical …

This is the third in a series of three essays which explore modern theories for inflation. Here we examine theories … that reject the universal validity of perfect competition and link inflation with alternative, more realistic structures … and institutions. In contrast to macroeconomic theories which emphasize ‘excess demand’ and growth inflation, structural …

year and the NMW shapes the timing of industry-level wage bargaining. Inflation but also changes in past aggregate wage … macro variables are 0.6, 0.4 and 0.3 respectively. Inflation and the NMW have both decreasing but positive effects all along …

the empirical link between wages and CPI inflation in order to identify causality effects and assess the relevance of … wages disappears in a low inflation environment. These findings move in the same direction as most evidence obtained with US …We construct a quarterly time series for nominal hourly wages and unit labour costs from 1975 onwards and investigate …

This research documents changes in employment and wages in the Netherlands for different types of workers. We compare … 2017 to 2023 using regression-adjusted wages to make sure changes in composition of the workforce do not influence our … estimates. The research period has been characterised by high labour demand, negative supply shocks, high levels of inflation …