degree of wage rigidity makes monetary policy more effective, i.e. a monetary policy shock transmits faster onto inflation … fluctuations. Our results point primarily towards disturbances in the bargaining process as a significant contributor to inflation …

degree of wage rigidity makes monetary policy more effective, i.e. a monetary policy shock transmits faster onto inflation … fluctuations. Our results point primarily towards disturbances in the bargaining process as a significant contributor to inflation …

This paper investigates the importance of labor market institutions for inflation and unemployment dynamics. Using the … and their interaction is crucial for the dynamics of inflation and unemployment. We estimate a panel VAR with … deterministically varying coefficients and find that there is a profound difference in the responses of unemployment and inflation to …

degree of wage rigidity makes monetary policy more effective, i.e. a monetary policy shock transmits faster onto inflation … fluctuations. Our results point primarily towards disturbances in the bargaining process as a significant contributor to inflation …

degree of wage rigidity makes monetary policy more effective, i.e. a monetary policy shock transmits faster onto inflation … fluctuations. Our results point primarily towards disturbances in the bargaining process as a significant contributor to inflation …

This paper analyzes the effects of different labor market institutions on inflation and output volatility. The eurozone … theory. Real wage rigidities do not seem to play much of a role. This result is in line with our employed labor market model … output volatility, they do not seem to have much of an effect on inflation volatility. Our estimations indicate that the …

All else equal, higher wages translate into higher inflation. More rigid wages imply a weaker response of inflation to …

result is that the model is able to generate persistent responses in output, inflation, and total labor input to both neutral …

marginal costs with respect to output and thus help to account for the observed inertia in inflation …