Showing 1 - 10 of 17
This paper reviews the development of labour market institutions in Norway, shows how labour market regulation has been related to the macroeconomic development, and presents dynamic econometric models of nominal and real wages. Single equation and multi-equation models are reported. The...
Persistent link: https://www.econbiz.de/10011653824
We estimate the quantitative importance of labour market institutions for equilibrium unemployment in OECD. The empirical equation for unemployment is based on the solution of a dynamic macroeconomic model where wages and prices are jointly determined with unemployment. Compared to existing...
Persistent link: https://www.econbiz.de/10010330226
The paper performs a reinvestigation of Nordic wage formation along the lines of Calmfors and Nymoen (1990) with data that include the recent period of high unemployment and low in ation. Among the main findings are: 1)There has been no shift in Nordic wage formation since 1987. 2)The wage...
Persistent link: https://www.econbiz.de/10010284266
From a detailed study of the yearly wage bargaining rounds in Norway and Sweden, we construct time series of five complemetary coordination indices. Econometrics is used to evaluate the importance of the coordination indicators for our understanding of the changes in the rates of unemployment...
Persistent link: https://www.econbiz.de/10010284315
Several features of the U.S. natural rate of unemployment are reconsidered through specification and testing of econometric models. Traditionally, the choice has been between a wage Phillips curve model, PCM, or an equilibrium correction wage curve model, WECM. The models proposed in this paper...
Persistent link: https://www.econbiz.de/10010284368
Persistent link: https://www.econbiz.de/10000759335
Persistent link: https://www.econbiz.de/10003327767
We estimate the quantitative importance of labour market institutions for equilibrium unemployment in OECD. The empirical equation for unemployment is based on the solution of a dynamic macroeconomic model where wages and prices are jointly determined with unemployment. Compared to existing...
Persistent link: https://www.econbiz.de/10009575999
Collective agreements have played a central role in the system of wage formation in Norway for more than fifty years. Although the degree of coordination achieved has been variable, pattern wage bargaining has been a mainstay of the system. We investigate the degree of invariance in wage...
Persistent link: https://www.econbiz.de/10011373319
Persistent link: https://www.econbiz.de/10011373672