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A Monetary Model of Business Cycle with Search on the Labor Market.
Cheron, A.; Langot, F. - Centre de recherche de mathématiques et économie … - 1998
curves. Monopolistic competition and sticky prices on the good market are introduced in a labor market search model disturbed …
Persistent link: https://www.econbiz.de/10005478355
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Understanding low wage growth in the euro area and European countries
Nickel, Christiane (contributor); Bobeica, Elena (contributor) - 2019
Despite notable improvements in the labour market since 2013, wage growth in the euro area was subdued and substantially overpredicted in 2013-17. This paper summarises the findings of an ESCB expert group on the reasons for low wage growth and provides comparable analyses on wage developments...
Persistent link: https://www.econbiz.de/10012141429
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Understanding low wage growth in the euro area and European countries
Nickel, Christiane (ed.); Bobeica, Elena (ed.);  … - 2019
Despite notable improvements in the labour market since 2013, wage growth in the euro area was subdued and substantially overpredicted in 2013-17. This paper summarises the findings of an ESCB expert group on the reasons for low wage growth and provides comparable analyses on wage developments...
Persistent link: https://www.econbiz.de/10012063794
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Real Wages and the 'Malthusian Problem' in Antwerp and South-Eastern England, 1400 - 1700: A regional comparison of levels and trends in real wages
Munro, John H. - University of Toronto, Department of Economics - 2006
provided a comparison of prices and real wages of building craftsmen in the regions of Antwerp and south-eastern England, from … real wages for these craftsmen in Antwerp did not suffer the same deterioration as did comparable real wages in England … levels of the real wages were not shown. Most economic historians have attributed that significant fall in real wages …
Persistent link: https://www.econbiz.de/10005704755
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Shocks and Frictions under Right-to-Manage Wage Bargaining: A Transatlantic Perspective
Consolo, Agostino; Hertweck, Matthias S. - 2010
Persistent link: https://www.econbiz.de/10011390646
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Delivering Endogenous Inertia in Prices and Output
Johri, Alok - In: Review of Economic Dynamics 12 (2009) 4, pp. 736-754
This paper presents a DGE model in which aggregate price level inertia is generated endogenously by the optimizing behaviour of price-setting firms. All the usual sources of inertia are absent here ie., all firms are simultaneously free to change their price once every period and face no...
Persistent link: https://www.econbiz.de/10004985615
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Demand shocks and the cyclical behavior of the real wage: Some international evidence
Kandil, Magda - In: Journal of Applied Economics XIII (2010) May, pp. 135-158
The focus of this investigation is on the cyclical response of the real wage to demand shocks. This response differentiates the empirical validity of major New Keynesian explanations of business cycles. The empirical evidence, across industrial countries, highlights a moderate positive...
Persistent link: https://www.econbiz.de/10008568382
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Shocks and Frictions under Right-to-Manage Wage Bargaining: A Transatlantic Perspective
Consolo, Agostino; Hertweck, Matthias S. - Wirtschaftswissenschaftliches Zentrum, Universität Basel - 2010
Persistent link: https://www.econbiz.de/10009025071
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Shocks and frictions under right-to-manage wage bargaining : a transatlantic perspective
Consolo, Agostino; Hertweck, Matthias S. - 2010
This paper introduces staggered right-to-manage wage bargaining into a New Keynesian business cycle model. Our key result is that the model is able to generate persistent responses in output, inflation, and total labor input to both neutral technology and monetary policy shocks. Furthermore, we...
Persistent link: https://www.econbiz.de/10008662486
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The Impact of Reference Norms on Inflation Persistence When Wages are Staggered
Knell, Markus - 2009
In this paper we present an extension of the Taylor model with staggered wages in which wage-setting is also influenced … by reference norms (i.e. by benchmark wages). We show that reference norms can considerably increase the persistence of … wages in Austria from 1980 to 2006 we show that wage-setting is strongly influenced by reference norms, that the wages of …
Persistent link: https://www.econbiz.de/10012763968