There is a growing concern about collective wage agreement and employment dynamics in Germany. In this paper, evidence … factors when firms from the service sector are faced with demand shocks. The estimation results indicate that collective wage …

There is a growing concern about collective wage agreement and employment dynamics in Germany. In this paper, evidence … factors when firms from the service sector are faced with demand shocks. The estimation results indicate that collective wage …

This work introduces a new mechanism generating procyclical comovements of labor productivity, employment, through … endogenous variations of workers' effort, in a simple model with efficiency wages, near a locally indeterminate steady state. A … effort, employment and labor productivity, in particular when the capital-efficient labor elasticity of substitution is …

Typical measures of wages, such as average hourly earnings, fail to capture cyclicality in the effective cost of labor … in the presence of (i) cyclical fluctuations in the quality of worker-firm matches, or (ii) wages being smoothed within … recession affects user cost: It lowers the new-hire wage; it lowers wages going forward in the match; but it also results in …

economic conditions at the time of hiring on future wages. Measured by the labor's user cost, the price of labor is …

We introduce "fair" wages in a general-equilibrium model where worker's effort is unobservable and investigate whether … internalize the effect that past wages have on current effort level. We calibrate the model to Bulgarian data (1999-2016), and … quantify the effect of technological shocks on hours and wages in the theoretical setup. Overall, the calibrated model with …

output dynamics in response to positive productivity shocks? Can we identify heterogeneous productivity shocks and the …

-distributed database which merges data related to wage bargaining institutions (Wage Dynamic Network, WDN) with data on firm productivity … in terms of variation in profits, wages, and employment. The paper shows that, in line with the theoretical predictions …