Forslund, Anders; Gottfries, Nils; Westermark, Andreas - Institutet för Arbetsmarknads- och Utbildningspolitisk … - 2005
factors in the labour market? How important is nominal wage rigidity and exchange rate policy for the medium term evolution of … real wages and competitiveness? To answer these questions, we formulate a theoretical model of wage bargaining in an open … economy and use it to derive a simple wage equation where all parameters have clear economic interpretations. We estimate the …