. Therefore, an indicator which does not use wages at all to estimate the unemployment gap performs the best in forecasting wage …Labour market tightness, that is the ratio of jobs to the unemployed, has an impact on wage setting, which also affects … inflation. Among other things, the unemployment gap, which is the difference between unemployment rate and non …

security system in an economy with unemployment caused by trade unions. Using a simple two-period overlapping generations … approach, it can be shown that the trade union behavior with respect to wage setting may have favorable effects on per capita … contributions, if labor demand is sufficiently inelastic with respect to the wage rate. In contrast, if firm's labor demand reacts …

In employment relationships, a wage is an installment payment on an implicit long-term agreement between a worker and a … firm. The price of labor that impacts firm's hiring decisions, instead, reflects the hiring wage as well as the impact of … substantially more pro-cyclical than the new-hire wage or the average wage. The strong procyclicality of the price of labor calls …

Wages are only mildly cyclical, implying that shocks to labour demand have a larger short-run impact on unemployment … occasionally renegotiated. We argue that one source of the wage flexibility puzzles is plausibly the model for the determination of … reservation wages, and consider an alternative reservation wage model based on reference dependence in job search. This extension …

provoked if a single country reduces the generosity of the unemployment compensation system or weakens labor union power. For … degree of competition in the goods market and the institutional setup of the unemployment compensation system. Furthermore … the household's main income source consists of wage income or capital income and profits. …

Wages are only mildly cyclical, implying that shocks to labour demand have a larger short-run impact on unemployment … occasionally renegotiated. We argue that one source of the wage flexibility puzzles is plausibly the model for the determination of … reservation wages, and consider an alternative reservation wage model based on reference dependence in job search. This extension …

any wage-price surprises. Conventional thinking about the equilibrium unemployment rate assumes that in the long run NAIRU … modern labour market literature NAIRU is defined as the rate of unemployment at which inflation stabilizes in the absence of … arise even in simple log-linear wage-price models. Furthermore we provide a survey on a number of "hysteresis …

vs. sticky wages, interactions at the firm level between price and wage-setting, alternative forms of hiring frictions …, search on-the-job and endogenous job separation. Models with wage stickiness and right-to-manage bargaining or with firm …

Wages are only mildly cyclical, implying that shocks to labour demand have a larger short-run impact on unemployment … occasionally renegotiated. We argue that one source of the wage flexibility puzzles is plausibly the model for the determination of … reservation wages, and consider an alternative reservation wage model based on reference dependence in job search. This extension …

employment and the level of unemployment in a two-sector economy with a heterogenous work force. Efficiency wage considerations … and minimum wage legislation lead to labor market segmentation. A technological shock that reduces the demand for … unskilled labor and raises the demand for skilled labor in the primary, high-wage sector is shown to increase the relative wage …