This paper reviews recent approaches to modeling the labour market and assesses their implications for inflation … volatile inflation. Models with wage stickiness and right-to-manage bargaining or with firm-specific labour emerge as the most …

-specific labour imply a sufficient degree of real rigidity, and so can reproduce inflation dynamics well. However, they imply too … little real rigidity and, so, too volatile inflation, owing to strong responses of marginal wages and hours per employee … the responses of wages, inflation and employment. …

This paper reviews recent approaches to modeling the labour market, and assesses their implications for inflation … volatile inflation. Models with wage stickiness and right-to-manage bargaining or with firm-specific labour emerge as the most …

This paper reviews recent approaches to modelling the labour market, and assesses their implications for inflation … data and, so, too volatile inflation. Models with wage stickiness and right-to-manage bargaining, or with firm …

of vacancies in the data. A further interesting finding is that inflation via the Phillips curve is not only driven by an …

response in the data. Another interesting finding is that inflation via the Phillips curve is not only driven by an output gap …