Haefke, Christian; Sonntag, Marcus; van Rens, Thijs - Institute for the Study of Labor (IZA) - 2008
jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle. … technology shocks. Our estimates have the same interpretation for any
shock that does not a�ect wages directly, but only through … inter-
pretation for any shock that does not a�ect wages directly, but only through changes in
productivity. However, if …