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This paper analyses information from survey data collected in the framework of the Eurosystem’s Wage Dynamics Network (WDN) on patterns of firm-level adjustment to shocks. We document that the relative intensity and the character of price vs. cost and wage vs. employment adjustments in...
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macroeconomic volatilities. In our subsequent empirical estimations, we find that higher labor turnover costs have a statistically … and inflation volatility ; labor turnover costs ; unemployment benefits ; unemployment ; eurozone …
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