As union membership is declining, it is natural to ask whether this decline results in slower wage growth. The paper by James Bishop and Iris Chan (2019) studies this question in the context of the recent slowdown in wage growth in Australia and argues the answer is a clear “No”. It is a...

The thesis analyzes monetary and labor policies under different market frictions. In the first part several versions of a microfounded dynamic general equilibrium model with monopolistic competitors in the product and/or labor market are derived and simulated. First of all, the monetary...