Author: Pertti HaaparantaPublisher:
ISBN:
Category : Indexation (Economics)
Languages : en
Pages : 30
Book Description
Real and Relative Wage Rigidities
Author: Pertti HaaparantaPublisher:
ISBN:
Category : Indexation (Economics)
Languages : en
Pages : 30
Book Description
Real and Relative Wage Rigidities - Wage Indexation in the Open Economy Sta Ggered Contracts Model
Author: Wage Rigidity and Unemployment
Author: Wilfred BeckermanPublisher: Bloomsbury Academic
ISBN:
Category : Business & Economics
Languages : en
Pages : 240
Book Description
Real Wage Rigidities, Fiscal Policy, and the Stability of EMU in the Transition Phase
Author: Norbert BertholdPublisher: International Monetary Fund
ISBN: 1451850522
Category : Business & Economics
Languages : en
Pages : 34
Book Description
EMU started with eleven member countries as scheduled on January 1, 1999. The paper shows that the primacy of politics over economics in this decision could have serious consequences concerning the stability of EMU in the transition phase. Speculative attacks against currencies which are in economic distress due to asymmetric shocks can still happen. A speculative attack as such cannot force a country out of EMU. However, the country concerned might voluntarily decide to leave the system as the costs of staying inside EMU, e.g., due to further rising unemployment, become too large to bear.
Nominal Wage Rigidity and Real Wage Cyclicality
Author: Marcello M. EstevaoPublisher:
ISBN:
Category : Labor supply
Languages : en
Pages : 26
Book Description
On the Identification of Relative Wage Rigidity Dynamics
Author: Patrick A. PuhaniPublisher:
ISBN:
Category : Unemployment
Languages : en
Pages : 52
Book Description
The Role of Labor Market Rigidities During the Transition
Author: Mr.Thierry PujolPublisher: International Monetary Fund
ISBN: 1451849966
Category : Business & Economics
Languages : en
Pages : 31
Book Description
The transition to a market economy has been analyzed primarily from a stabilization prospective. To complement that approach, we focus on a pure relative price shock and subsequent price adjustments. A model of monopolistic competition with costly labor adjustment indicates that relative price shocks can induce overall output decline because rigid sectoral real wages do not adjust to offset sectoral price changes, and firms that benefit from the price shock engage in monopolistic behavior. In Poland, empirical evidence suggests that relative wage rigidity contributed to lower employment and output, but there is no strong evidence that competition was important.
The Reactance Theory of Wages
Author: William K. BellingerPublisher:
ISBN:
Category : Employment (Economic theory)
Languages : en
Pages : 224
Book Description
Macroeconomic Uncertainty and Capital-Skill Complementarity
Author: Anna BelianskaPublisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 74
Book Description
I examine the impact of macroeconomic uncertainty on labor market outcomes for skilled and unskilled workers and propose a new channel to improve our understanding of the underlying propagation mechanisms. I find that uncertainty shocks are recessionary with the unskilled experiencing a steeper fall in employment. To rationalize these findings, I build a New Keynesian DSGE model with skill heterogeneity and wage rigidities, which, coupled with precautionary labor supply, significantly amplify contractionary effects of uncertainty on the real economy.
Real Wage Rigidity and the Effect of an Oil Discovery
Author: Charles R. BeanPublisher:
ISBN:
Category : Offshore oil industry
Languages : en
Pages : 24
Book Description