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reactiveness of inflation to the unemployment rate. In regard to a monetary union, the national unemployment multiplier in the …
Persistent link: https://www.econbiz.de/10010238840
In this paper fiscal policy is examined for an open economy characterised by unemployment due to efficiency wages. We …
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In this paper we investigate the quantitative importance of e fficiency wages in explaining fluctuations in Bulgarian labor markets. This is done by augmenting an otherwise standard real business cycle model a la Long and Plosser (1983) with unobservable workers e ort by employers and wage...
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In order to alleviate unemployment it is often recommended to reduce social security contributions (SSC) and to … compensate for the ensuing loss in revenues by a rise in the value-added tax (VAT). Assuming unemployment to be caused by … neutralised, for example, by imposing a constant wedge, the employment impact will depend on the nature of the unemployment …
Persistent link: https://www.econbiz.de/10011313955
We introduce "fair" wages in a general-equilibrium model where worker's effort is unobservable and investigate whether such a mechanism can quantitatively account for the degree of real wage rigidity in the Bulgarian labor markets, as documented in Lozev, Vladova, and Paskaleva (2011) and...
Persistent link: https://www.econbiz.de/10011974105