The aggregate Frisch elasticity of labor supply has played a key role in business cycle analysis. This paper develops a statistical aggregation procedure which allows for worker heterogeneity in observables and unobservables and is applicable to an individual labor supply function with...

The aggregate Frisch elasticity of labor supply has played a key role in business cycle analysis. This paper develops a statistical aggregation procedure which allows for worker heterogeneity in observables and unobservables and is applicable to an individual labor supply function with...

A model of nominal labor-price dynamics is derived from the choice of an efficient strategy to adjust wages for inflation. The model, named the rational-arrangements Phillips curve, identifies a central role for catch-up to price inflation that has already occurred and a more latent role for...

The empirical relationships between labour wages, unemployment rate and the labour productivity index in New Zealand's construction sector (for the period of 1983–2017) were investigated. The Johansen cointegration test and vector error correction mechanism were used to determine the existence...

The aggregate Frisch elasticity of labor supply has played a key role in business cycle analysis. This paper develops a statistical aggregation procedure which allows for worker heterogeneity in observables and unobservables and is applicable to an individual labor supply function with...

The model of the wage bargaining constitutes a framework for calculation of the NAWRU in Poland. The approach used in the paper let me trace changes of the natural unemployment rate in Poland in the context of structural changes in the economy in the last decade. Moreover, I introduced the...

There are no apparent academic or theoretical positions; however, Macroeconomic earnings are generally perceived to result from overall corporate performance or merit. This perception appears largely due to the fact that improvements by an individual company generally result in, and merit,...

This paper presents an investigation of the dynamic effects of fiscal policy in an inter-temporal optimisation model with an oligopsonistic labour market. In an oligopsonistic labour market, fiscal policy expands employment through a shift of labour demand and supply curves. Fiscal policy has a...