process in the United States over the 1967-2000 period. Using compensation per hour as the measure of wages, we specify a … productivity growth, and an additional set of labor market variables. The results do not reject the hypothesis that real wages and …

relation between their current wages and their past wages, adjusted for inflation. We call this the post-crisis Phillips Curve …

Heterogeneous-agent New Keynesian models with sticky nominal wages usually assume that wage-setting unions demand the …, wages and inflation to monetary policy shocks becomes notably less pronounced. This attenuation reflects that hours worked … modification substantially lowers the effective stickiness of nominal wages, resulting in markedly different wage and inflation …

relative contraction in credit supply, associated with lower average wages and employment. These effects are heterogeneous … higher-paid workers see a relative decline in wages. Between firms, wages fall by more at initially higher-paying employers …

correlations between labor market tightness and wages weakened noticeably. This change was accompanied in a break in the … relationship between wages and prices, so wage inflation has become a much less important determinant of price inflation …