Central bankers are raising interest rates on the assumption that wage-push inflation may lead to stagflation. This is … for wage growth are the non-employment rate and the under-employment rate. Both are high and act as brakes on wage growth …

We document substantial cross-sectional heterogeneity of German establishments' real wage cyclicality over the business … wages. We estimate a negative connection between establishments' wage cyclicality and their employment cyclicality, thereby …

We document substantial cross-sectional heterogeneity of German establishments' real wage cyclicality over the business … wages. We estimate a negative connection between establishments' wage cyclicality and their employment cyclicality, thereby …

This paper analyzes the effects of different wage cyclicalities on labor market flow dynamics at the establishment … level. We derive a model that allows for heterogeneous wage cyclicalities across firms over the business cycle and confront … with theory, establishments with more procyclical wage movements over the business cycle have a more countercyclical hires …

model that is able to replicate these facts and thereby allows us to run counterfactual exercises. When we set the wage …

model that is able to replicate these facts and thereby allows us to run counterfactual exercises. When we set the wage …

Although the quantitative relationship between employment cyclicality and wage cyclicality is central for the dynamics … that wage cyclicalities are very heterogeneous across establishments. Based on this heterogeneity, we estimate the … relationship between employment cyclicality and wage cyclicality at the establishment level. We use this micro-estimate as a …

This paper introduces staggered right-to-manage wage bargaining into a New Keynesian business cycle model. Our key … result is that the model is able to generate persistent responses in output, inflation, and total labor input to both neutral … shock. When the economy is hit by a neutral technology shock, both price and wage rigidities turn out to be important. …