period. The workers’ bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence … cost determination. This set-up produces realistic labor market statistics together with inflation persistence …

period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence … cost determination. This set-up produces realistic labor market statistics together with inflation persistence …

inflation persistence. The closer to zero this parameter, (i) the more firms tend to adjust on the intensive margin, reducing … wage in determining the marginal cost. This set-up produces realistic labour market figures together with inflation …

period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence … cost determination. This set-up produces realistic labor market statistics together with inflation persistence …

period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence … cost determination. This set-up produces realistic labor market statistics together with inflation persistence …

inflation persistence. The closer to zero this parameter, (i) the more firms tend to adjust on the intensive margin, reducing … wage in determining the marginal cost. This set-up produces realistic labour market figures together with inflation …

In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a … significantly lower elasticity of marginal costs with respect to output. This helps to explain the sluggishness of inflation and the … inflation relies on its ability to explain the dynamics of the labor market …

for inflation dynamics: under right-to-manage, the real wage rigidity also results in smaller fluctuations of inflation …. These findings are consistent with recent evidence suggesting that real wages and inflation only vary by a moderate amount …

1980s. Based on the timing of observed fluctuations in interest rates, inflation, and productivity, it appears that the …