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This Economic Letter summarizes the papers presented at the conference "Nominal Rigidities" held in San Francisco on June 16 under the joint sponsorship of the Federal Reserve Bank of San Francisco, the National Bureau of Economic Research, and the Federal Reserve Bank of Cleveland.
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sectoral comovement is rigidity in nominal wages. …
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This paper gives a comprehensive picture of job and worker flows for the entire Danish economy. We exploit a unique central administrative register encompassing all employees of all establishments across all sectors throughout two business cycles. This enables us to broaden the focus of the...
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Employment of apprentices seems to follow the business cycle. An interesting question is whether this is based on an investment policy where firms recruit when the labour market indicates skill shortage. Alternatively it may be that the firms are myopic and basically hire apprentices in booming...
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set of observations on the cyclicability ofboth wages and employment. …
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This paper uses a long-run identifying restrictions on a three-variable system containing output growth, real wage growth and the unemployment rate, to isolate three "structural" shocks which drove business cycle fluctuations in a sample of 16 OECD countries during 1950-94.
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