estimates of wage rigidities to structural features of the labour markets studied, such as the wage bargaining level, variable … degree of decentralization within highly centralized countries allows firms to adjust wages downwards, when business …

) the lower the effective workers' bargaining power for wages and (iii) the more important the hourly wage in the marginal …We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every … period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence …

importance of wage bargaining above the firm level, the automatic system of index-linking wages to past inflation, the limited …

, however, essential to move beyond the country-specific durations of price and wages and to take more institutional details …

industrial disputes. This narrative information disciplines the impulse responses to a wage bargaining shock of un-employment and …We quantify the effects of wage bargaining shocks on macroeconomic aggregates using a structural vector auto …-regression model for Germany. We identify exogenous variation in bargaining power from episodes of minimum wage introduction and …

In this paper I address the question to what extent wages are affected by product market uncertainty. Implicit contract …. Using matched employer-employee dataset, I adopted the estimation strategy proposed by Guiso et al. (2005) to evaluate wage … response differs depending on the nature of the shock. Broadly speaking, the wage response to permanent shocks is twice as high …

system. Real wages and wage inflation emerge as especially persistent following an import price shock, while price inflation …This paper investigates the persistence of aggregate wages and prices in Portugal assuming a model of a unionized … is more persistent following an unemployment shock. At the business cycle horizon variation in the forecast errors of …

In this paper we present an extension of the Taylor model with staggered wages in which wage-setting is also influenced … by reference norms (i.e. by benchmark wages). We show that reference norms can considerably increase the persistence of … wages in Austria from 1980 to 2006 we show that wage-setting is strongly influenced by reference norms, that the wages of …

estimation results imply that companies operating in a more competitive environment have a higher propensity to react …

identify some relevant characteristics about the dynamics of prices and wages in Portugal. The most important conclusions are …: i) changes to wages are more synchronized than changes to prices; ii) most wages are defined using inflation as a … yardstick, even though there are no formal rules; iii) the wages of most workers are defined in terms of sector …