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Temporary shocks and unavoidable transitions to a high-unemployment regime

Den Haan, Wouter J. - 2003

This paper develops a model with multiple steady states (low tax and unemployment rate versus high tax and unemployment … European unemployment rates observed during the seventies. The explanation given is that even if the unemployment rate would … job creation remains low making the return to a low unemployment rate impossible. The paper shows that in some cases …

Persistent link: https://www.econbiz.de/10009635968

Equilibrium unemployment, job flows and inflation dynamics

Trigari, Antonella - 2004

general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price …

Persistent link: https://www.econbiz.de/10009636527

Banking consolidation and small business lending

Takáts, Előd - 2004

The paper investigates small business lending as an information problem. It models the effects of information asymmetries within the bank combined with fixed wages. Two kinds of inefficiencies arise in equilibrium: the credit officer either sometimes shirks or he is occasionally fired. In both...

Persistent link: https://www.econbiz.de/10009639467

Aggregation and euro area Phillips curves

Fabiani, Silvia; Morgan, Julian - 2003

This paper examines the issue of the impact of aggregation in the empirical analysis of euro area labour markets. A Phillips Curve describing the adjustment of unit labour costs is estimated at the national and aggregate level for the 5 largest euro area countries. Potential sources of...

Persistent link: https://www.econbiz.de/10009639854

Price and wage formation in Portugal

Marques, Carlos Robalo; Martins, Fernando; Portugal, Pedro - 2010

unemployment changes may have declined over the last decade. …

Persistent link: https://www.econbiz.de/10009640315

Wage and price setting behaviour of Lithuanian firms

Virbickas, Ernestas - 2010

This paper investigates the wage and price setting behaviour of Lithuanian firms on the basis of an ad hoc survey “On Price and Wage Setting” undertaken by the Bank of Lithuania. The paper provides survey evidence on the frequency of wage and price changes. The frequency of wage changes...

Persistent link: https://www.econbiz.de/10009640342

Is there a signalling role for public wages?

Pérez, Javier J.; Sánchez, A. Jesús - 2010

Do public sector wages exert pressures on private sector wages, or has the private sector a leadership role in wage setting? This paper tries to isolate the pure signalling effect that one sector might exert on the other by controlling for other determinants of wages (prices, productivity,...

Persistent link: https://www.econbiz.de/10009640411

Firms' reactions to the crisis and their consequences for the labour market

Kwapil, Claudia - 2010

This article is based on the results of two company surveys - the first was conducted in 2007, before the recession 2008/2009 hit Austria, and the second was conducted in 2009 shortly after the trough of it. We analyse firms’ reactions to the crisis and focus on their labour market relevant...

Persistent link: https://www.econbiz.de/10009640421

The margins of labour cost adjustment

Babecký, Jan; Du Caju, Philip; Kosma, Theodora; … - 2009

Firms have multiple options at the time of adjusting their wage bills. However, previous literature has mainly focused on base wages. We broaden the analysis beyond downward rigidity in base wages by investigating the use of other margins of labour cost adjustment at the firm level. Using data...

Persistent link: https://www.econbiz.de/10009640473

Downward nominal and real wage rigidity

Babecký, Jan; Du Caju, Philip; Kosma, Theodora; … - 2009

It has been well established that the wages of individual workers react little, especially downwards, to shocks that hit their employer. This paper presents new evidence from a unique survey of firms across Europe on the prevalence of downward wage rigidity in both real and nominal terms. We...

Persistent link: https://www.econbiz.de/10009640474