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Technology Shocks and Labor Market Dynamics : Some Evidence and Theory

Liu, Zheng - 2006

shock leads to a weak response in nominal wage inflation, a modest decline in price inflation, and a modest rise in the real …

Persistent link: https://www.econbiz.de/10012734769

Between institutions and global forces : Norwegian wage formation since industrialisation

Nymoen, Ragnar - In: Econometrics : open access journal 5 (2017) 1, pp. 1-54

This paper reviews the development of labour market institutions in Norway, shows how labour market regulation has been related to the macroeconomic development, and presents dynamic econometric models of nominal and real wages. Single equation and multi-equation models are reported. The...

Persistent link: https://www.econbiz.de/10011653824

Are Real Wages Procyclical Conditional on a Monetary Policy Shock?

Ma, Eunseong - 2020

It is well-known that real wages are procyclical conditional on a monetary policy shock. This paper challenges this conventional view by using a quantitative heterogeneous-agent New Keynesian economy with sticky wages. In the model with benchmark calibration, the wage rate per effective unit of...

Persistent link: https://www.econbiz.de/10014091478

Real Wages and Monetary Policy : A DSGE Approach

Perry, Bryan J. - 2012

Economists have long investigated the cyclical behavior of real wages in order to draw inferences regarding the relative stickiness of prices and wages. Recent studies have adopted techniques intended to identify monetary shocks and examined the response of real wages and output or employment to...

Persistent link: https://www.econbiz.de/10013110031

Demand Shocks and the Cyclical Behavior of the Real Wage : Some International Evidence

Kandil, Magda - 2010

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/10013142097

Chapter 6. Allocative and Remitted Wages : New Facts and Challenges for Keynesian Models

Basu, S.; House, C.L. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 297-354). 2016

Modern monetary business-cycle models rely heavily on price and wage rigidity. While there is substantial evidence that prices do not adjust frequently, there is much less evidence on whether wage rigidity is an important feature of real world labor markets. While real average hourly earnings...

Persistent link: https://www.econbiz.de/10014024268

Labor market institutions and the business cycle : unemployment rigidities vs. real wage rigidities

Abbritti, Mirko; Weber, Sebastian - 2010

This paper investigates the importance of labor market institutions for inflation and unemployment dynamics. Using the … and their interaction is crucial for the dynamics of inflation and unemployment. We estimate a panel VAR with … deterministically varying coeficients and find that there is a profound difference in the responses of unemployment and inflation to …

Persistent link: https://www.econbiz.de/10003972885

Labor Market Institutions and the Business Cycle : Unemployment Rigidities vs. Real Wage Rigidities

Abbritti, Mirko - 2010

This paper investigates the importance of labor market institutions for inflation and unemployment dynamics. Using the … and their interaction is crucial for the dynamics of inflation and unemployment. We estimate a panel VAR with … deterministically varying coefficients and find that there is a profound difference in the responses of unemployment and inflation to …

Persistent link: https://www.econbiz.de/10013144855

Wage and employment effects of workplace representation : a ”right to co-manage” model

Gu, Yiquan - 2010

This paper introduces a two-stage union-oligopoly-council model of wage and employment determination wherein at the first stage wage is negotiated through collective bargaining and at the second stage employment in each firm is co-determined by the employer and its works council. We provide a...

Persistent link: https://www.econbiz.de/10003950956

Minimally altruistic wages and unemployment in a matching model

Rotemberg, Julio (contributor) - 2007

This paper presents a model in which firms recruit both unemployed and employed workers by posting vacancies. Firms act monopsonistically and set wages to retain their existing workers as well as to attract new ones. The model differs from Burdett and Mortensen (1998) in that its assumptions...

Persistent link: https://www.econbiz.de/10003715729