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In this paper I study the relation between real wage rigidity (RWR) and nominal price and wage rigidity. I show that in a standard DSGE model RWR is mainly affected by the interaction of the two nominal rigidities and not by other structural parameters. The degree of RWR is, however,...
Persistent link: https://www.econbiz.de/10009640361
This study poses the question about whether labour market institutions can explain unemployment rates in the ten new … European Union member states. In five out of the ten new member states, unemployment rates lie above the average in the 15 … institutions in the acceding countries are less rigid than in the EU-15. Moreover, labour market institutions explain only a minor …
Persistent link: https://www.econbiz.de/10009636570