We study the design of optimal monetary policy in a New Keynesian model with labor turnover costs in which wages are …

Using administrative data from Germany, this paper analyzes the relation between wages and past and current labor … wages are related to past labor market conditions as contract theories postulate. However, past labor market conditions also … affect contemporaneous wages through the evolution of the match qualities over a worker's job history - the main hypothesis …

Using administrative employer-employee data from Germany, we investigate the relationship between wages and past and … find strong evidence for history dependent wages, manifested in both hiring and retention premiums - which is consistent … match quality, we find that wages of new hires from unemployment are no more cyclical, but those of job changers are more …

Using employer-employee data from Germany, this paper analyzes the relationship between wages and past and … business cycle. The results are mixed: On the one hand, the data suggest that wages depend on labor market conditions when a … contemporaneous wages through the evolution of match quality over a worker's job history - the main hypothesis of the on …

The paper estimates how wages respond to changes in regional unemployment using detailed Swedish micro data. The study … is set in an economy with close to complete union coverage where real wages have grown continuously in all parts of the … estimated elasticity of wages. Wage adjustments are larger for employees with high unemployment risk and for new hires entering …