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Central bankers are raising interest rates on the assumption that wage-push inflation may lead to stagflation. This is not the case. Although unemployment is low, the labor market is not 'tight'. On the contrary, we show that what matters for wage growth are the non-employment rate and the...
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Wage rises have remained stubbornly low in advanced Europe in recent years, but, at the same time, newer EU members are experiencing rapid wage acceleration. This paper investigates the drivers of this wage divergence. Econometric analysis using error correction models suggests that wage growth...
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sickness absence - is used as instrument for sick-leaves. Sick-leaves have a substantial impact on future earnings, reducing … earnings by .3 percent per day of absence. When conditioning on full-time employment also two years after sickness the effect …
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sickness absence - is used as instrument for sick-leaves. Sick-leaves have a substantial impact on future earnings, reducing … earnings by .3 percent per day of absence. When conditioning on full-time employment also two years after sickness the effect …. -- sickness absence ; wage formation ; IV estimation ; wage regression …
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