We quantify the effects of wage bargaining shocks on macroeconomic aggregates using a structural vector auto …-regression model for Germany. We identify exogenous variation in bargaining power from episodes of minimum wage introduction and … industrial disputes. This narrative information disciplines the impulse responses to a wage bargaining shock of un-employment and …

and develop two alternative specifications of the bargaining process. Under efficient bargaining (EB) hours are determined …

We quantify the effects of wage bargaining shocks on macroeconomic aggregates using a structural vector auto …-regression model for Germany. We identify exogenous variation in bargaining power from episodes of minimum wage introduction and … industrial disputes. This narrative information disciplines the impulse responses to a wage bargaining shock of unemployment and …

model to identify four structural innovations: aggregate demand, labour supply, wage bargaining, and productivity; (iii … share responded mainly to productivity, aggregate demand, and wage bargaining shocks during the immediate post-war era …; whereas wage bargaining, productivity, and aggregate demand shocks mattered most during the Great Moderation. Second, these …