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Bonus Question: Does Flexible Incentive Pay Dampen Unemployment Dynamics?

Gaur, Meghana; Grigsby, John; Hazell, Jonathon; Ndiaye, … - 2023

We introduce dynamic incentive contracts into a model of unemployment dynamics and present three results. First, wage cyclicality from incentives does not dampen unemployment dynamics: the response of unemployment to shocks is first-order equivalent in an economy with flexible incentive pay and...

Persistent link: https://www.econbiz.de/10014469357

Bonus Question: How Does Flexible Incentive Pay Affect Wage Rigidity?

Gaur, Meghana; Grigsby, John; Hazell, Jonathon; Ndiaye, … - 2024

We introduce dynamic incentive contracts into a model of inflation and unemployment dynamics. Our main result is that wage cyclicality from incentives neither affects the slope of the Phillips curve for prices nor dampens unemployment’s response to shocks. The impulse response of unemployment...

Persistent link: https://www.econbiz.de/10015096825

Fourth column: strained relations - In a week in which Whitehall spin doctors managed to reel themselves into a corner, John Grigsby believes a new guide offering an insight into the tricks of news management highlights how far the grasp of PRs is stretching

Grigsby, John - In: Public finance : the business monthly of the public sector (1997), pp. 8

Persistent link: https://www.econbiz.de/10005904330

Fourth column: Regional unrest - Although regional government in England is currently a muddle, says John Grigsby, the planned regional development agencies will not bring clarity to the confusion, but rather a loss of effectiveness and accountability

Grigsby, John - In: Public finance : the business monthly of the public sector (1997), pp. 8

Persistent link: https://www.econbiz.de/10005904570

Fourth column: Taxing issue - It happens in New York. It could happen in Scotland. So when are politicians going to ask the British public if they mind paying a bit extra in return for better services from their local councils

Grigsby, John - In: Public finance : the business monthly of the public sector (1997), pp. 6

Persistent link: https://www.econbiz.de/10005904873

Fourth Column: Parental control - Councils may welcome moves by the new government to draw local government into the heart of its policy-making process but, argues John Grigsby, there has been more than a whiff of paternalism about some of its recent decisions

Grigsby, John - In: Public finance : the business monthly of the public sector (1997), pp. 8

Persistent link: https://www.econbiz.de/10005905200

Fourth column: Civic pride - Our town centres are in need of a face-lift to make them more attractive places to live in. But, says John Grigsby, councils have their hands tied when it comes to urban make overs as they don't have the money to fund them

Grigsby, John - In: Public finance : the business monthly of the public sector (1997), pp. 6

Persistent link: https://www.econbiz.de/10005905978

Fourth column: Local muscle? - At first sight the new Local Government Association looks like good news. But, will it have the muscle to take on central government

Grigsby, John - In: Public finance : the business monthly of the public sector (1997), pp. 6

Persistent link: https://www.econbiz.de/10005906242

Fourth column: The burden of age - Early retirement is a perk that councils, and the taxpaying public, can no longer afford. John Grigsby says it's time for councils to get real about pensions

Grigsby, John - In: Public finance : the business monthly of the public sector (1997), pp. 8

Persistent link: https://www.econbiz.de/10005906464

Fourth column: Freedom at a single stroke - As soon as it has sorted out its logo, the new Local Government Association should turn its attention to freeing local spending from central control

Grigsby, John - In: Public finance : the business monthly of the public sector (1996), pp. 6

Persistent link: https://www.econbiz.de/10005908347