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Equilibrium search theory suggests that the wage distribution in a cross section of workers is closely related to labor market transitions and associated wage changes. Accordingly, job-to-job transitions are central in explaining the wage distribution. This paper usese the IAB employment...
Persistent link: https://www.econbiz.de/10005626934
estimates the unemployment rate that is compatible with a tolerable inflation rate of say 2 percent following roughly the … compatible with 2 percent inflation in Germany is currently around 7 percent if the definition of unemployment follows the …
Persistent link: https://www.econbiz.de/10008596551
and technology effects for high-skilled labor while wage bargaining institutions were holding up relative wages of low …-skilled labor. The combined effect accounts for the disproportionate increase of unemployment for low-skilled workers. …
Persistent link: https://www.econbiz.de/10008596496