Changes in Real and Nominal Weekly Wages 1967-85
Real rigidities and nominal price changes
... A Kimball rigidity need not always have extreme implications for shocks and quanti- ties. Perhaps, at a sufficiently disaggregate level, price changes are highly synchronized. Synchronization, however, might undo ...
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Procyclical real wages under nominal-wage contracts with productivity variations
... theory, real wages have not been countercyclical as The literature on the behavior of real wages over the business cycle is large, controversial, and defies simple ...aggregate real- ...
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Monetary Policy, Efficiency Wages, and Nominal Wage Rigidities
... general model are qualitatively identical to those of previous section’s simple model. When M rises, employment rises. Efficiency falls because of the reduced real wages and the increased employment. ...
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Real vs. Nominal GDP Practice
... _____ Real vs. Nominal GDP Practice Real verse Nominal Values Prices in an economy do not stay the ...level changes the value of economic measures denominated in ...called ...
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Are Real Wages Rigid Downwards?
... compositional changes, one may expect to find both systematic and random ...higher wages than younger, newcomers to the labour ...compositional changes on the number of wage cuts is ...
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Are real wages rigid downwards?
... compositional changes, one may expect to find both systematic and random ...higher wages than younger, newcomers to the labour ...compositional changes on the number of wage cuts is ...
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Spot wages, job changes, and the cycle
... with real wages responding flexibly to the prevailing macroeconomic ...pro‐cyclical real wages with respect to job stayers, internal job movers and external job ...overall real wage ...
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Real and nominal wage adjustment in open economies
... how nominal wages responded to exchange rate changes and other variables, we obtain measures of nominal wage ...countries. Wages depend on unemployment, but also on the scope for wage ...
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Robustness and Real Consequences of Nominal Wage Rigidity
... lower nominal wage to incumbent ...workers nominal wage rigidity may nevertheless occur if behavioral forces like nominal fairness standards and nominal loss aversion are sufficiently ...and ...
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Real Effects of Nominal Exchange Rate Shocks
... The nominal effect thus does not come from the rigidity or stickiness of prices or wages, but from the gradual response of consumption expenditures and money ...Moreover, nominal shocks can revalue ...
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The Eurozone’s Future: Nominal, Real and Structural Convergence
... The!nominal!convergence!is!the!key!to!the!functioning!of!a!monetary!union.!It!determines!the! effectiveness!of!monetary!policy,!especially!in!the!organization!like!EMU!(Eurozone),!where!the! ...
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Sources of exchange rate fluctuations: are they real or nominal?
... on real GDPs and real consumption are seasonally adjusted in local currencies at year 2000 price ...mixing changes in real GDP with changes in the value of the ...US real GDP (y) ...
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Nominal and real wage rigidities. In theory and in Europe
... wage changes in a particular month (most of them—30%—in ...of wages to the rate of inflation. In order to be able to take these real-world characteristics of wage-setting into account one has to move ...
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Real and Nominal Wage Adjustment in Open Economies
... When wages are bargained over in a fixed exchange rate regime, the wage level is “anchored” to the exchange rate, foreign competitors’ prices, and productivity in the tradable ...for wages because ...
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On the cyclicality of real wages and wage differentials
... the changes in the demand for skills are due to skilled-biased technological change which is determined endoge- ...unskilled wages is ...of real wages for skilled and unskilled workers are not ...
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Real Wages and Productivity in New Zealand
... ordinary time hours and all hours including overtime. It does not include nonwage earnings such as superannuation payments or ACC levies. The QES excludes a number of sectors, the most significant being agriculture and ...
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Protection and Real Wages : The History of an Idea
... interest to mathematicians. Without stating things in a formal fashion, suppose that a country produces n commodities with the use of an “even” number of productive factors, n, with unit costs equal, in equilibrium, to ...
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Real Wages Versus Nominal Wages in the Albanian Economy
... experienced real wage decline. In Central and Eastern Europe, real wage growth fell from ...general, real wages at first started to grow less strongly and then even began to ...positive ...
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Optimal monetary policy in an economy with sticky nominal wages
... A simple model of aggregate supply This section analyzes output determina- tion and optimal monetary policy in a competi- tive economy subject to aggregate productivity shocks. 1 Initially, all prices are assumed to be ...
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Are Japanese Nominal Wages Downwardly Rigid? (Part I): Examinations of Nominal Wage Change Distributions
... the nominal wage change distribution is right-skewed during low inflationary periods and not right-skewed during high inflationary ...the nominal wage change distribution does tend to disappear as the ...
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