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We document three changes in postwar US macroeconomic dynamics: (i) the procyclicality of labor productivity has vanished, (ii) the relative volatility of employment has risen, and (iii) the relative (and absolute) volatility of the real wage has risen. We propose an explanation for all three...
Persistent link: https://www.econbiz.de/10003996447
We document three changes in postwar US macroeconomic dynamics: (i) the procyclicality of labor productivity has vanished, (ii) the relative volatility of employment has risen, and (iii) the relative (and absolute) volatility of the real wage has risen. We propose an explanation for all three...
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This paper investigates empirically how labor market institutions affect wage and inflation dynamics, particularly the … volatility of real wage growth and inflation and the persistence in inflation using a panel data for OECD economies. I also look … explaining the volatility of real wage growth and inflation. Besides that union density and bargaining coordination also play an …
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