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Sind Nominallöhne starr? Neuere Evidenz und wirtschaftspolitische Implikationen

Beissinger, Thomas; Knoppik, Christoph - 2003

Bei Vorliegen nach unten starrer Nominallöhne erschwert niedrige Inflation Reallohnanpassungen und führt so … Auswirkungen bei sehr niedriger Inflation nicht zu vernachlässigen sind. Die Ergebnisse dieser Literatur sollten daher bei der …In the presence of downwardly rigid nominal wages, low inflation may lead to higher equilibrium unemployment by …

Persistent link: https://www.econbiz.de/10010261537

Sequential bargaining in a new-Keynesian model with frictional unemployment and staggered wage negotiation

de Walque, Gregory; Pierrard, Olivier; Sneessens, Henri R. - 2009

period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence … cost determination. This set-up produces realistic labor market statistics together with inflation persistence …

Persistent link: https://www.econbiz.de/10010277123

The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics

Christoffel, Kai; Linzert, Tobias - 2005

employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …

Persistent link: https://www.econbiz.de/10010267287

Amerisclerosis? The Puzzle of Rising U.S. Unemployment Persistence

Coibion, Olivier; Gorodnichenko, Yuriy; Koustas, Dmitri - 2013

The persistence of U.S. unemployment has risen with each of the last three recessions, raising the specter that future U.S. recessions might look more like the Eurosclerosis experience of the 1980s than traditional V-shaped recoveries of the past. In this paper, we revisit possible explanations...

Persistent link: https://www.econbiz.de/10010329115

Price Dynamics and Production Lags

Lindbeck, Assar; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 1999

This paper provides a new explanation of why inflation is sluggish in response to aggregate demand shocks and why … rationale for a prolonged inverse relation between inflation and unemployment. The paper suggests that the interaction of … inflation persistence and unemployment persistence may offer a possible explanation of high and prolonged European unemployment. …

Persistent link: https://www.econbiz.de/10005702997

Real wages and the business cycle: accounting for worker and firm heterogeneity

Carneiro, Anabela; Guimarães, Paulo; Portugal, Pedro - 2009

Using a longitudinal matched employer-employee data set for Portugal over the 1986-2005 period, this study analyzes the heterogeneity in wages responses to aggregate labor market conditions for newly hired workers and existing workers. Accounting for both worker and firm heterogeneity, the data...

Persistent link: https://www.econbiz.de/10010268999

Real wages and the business cycles in Germany

Marczak, Martyna; Beissinger, Thomas - 2010

This paper establishes stylized facts about the cyclicality of real consumer wages and real producer wages in Germany. As detrending methods we apply the deterministic trend model, the Beveridge-Nelson decomposition, the Hodrick-Prescott filter, the Baxter-King filter and the structural time...

Persistent link: https://www.econbiz.de/10010274586

Real wages over the business cycle: OECD evidence from the time and frequency domains

Messina, Julián; Strozzi, Chiara; Turunen, Jarkko - 2008

We study differences in the adjustment of aggregate real wages in the manufacturing sector over the business cycle across OECD countries, combining results from different data and dynamic methods. Summary measures of cyclicality show genuine cross-country heterogeneity even after controlling for...

Persistent link: https://www.econbiz.de/10010275887

Cyclical skill-biased technological change

Balleer, Almut; van Rens, Thijs - 2009

Over the past two decades, technological progress has been biased towards making skilled labor more productive. What does skill-biased technological change imply for business cycles? To answer this question, we construct a quarterly series for the skill premium from the CPS and use it to...

Persistent link: https://www.econbiz.de/10010276400

The Spot Market Matters : Evidence on Implicit Contracts from Britain

Devereux, Paul J.; Hart, Robert A. - 2005

Based on the methodology of Beaudry and DiNardo (1991), this paper investigates the relative importance of the spot market and implicit contracts in the determination of British real wages. Empirical work is carried out separately for males and females with individuallevel data taken from the...

Persistent link: https://www.econbiz.de/10010262212