Downward nominal wage rigidity
Downward nominal wage rigidity, money illusion, and irreversibility
... of downward nominal wage rigidity (henceforth DNWR) for the conduct of macroeconomic policy (see Akerlof et ...at wage-setters and negotiators are reluctant to cut the nominal ...
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Downward nominal wage rigidity in Poland
... for downward nominal wage rigidity in ...for downward nominal wage rigidity when average total compensation in the enterprise is taken into ...that downward ...
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Loss avoidance in nominal frames and fairness in downward nominal wage rigidity and disinflation
... fair wage readjustment, it can lead to coordination failures, generating downward nominal wage rigidity (DNWR) and disinflation costs even with common knowledge of credible ...
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Optimal Monetary Policy and Downward Nominal Wage Rigidity in Frictional Labor Markets
... 1 Introduction This paper studies optimal monetary policy in the presence of Downward Nominal Wage Rigidity DNWR within a labor search and matching model.1 When nominal wages are downwar[r] ...
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Downward nominal wage rigidity and macroeconomic adjustment in a monetary union
... period wage, capital stock, world interest rate and T F P ) we com pute the welfare gain for different values of this variable, holding th e remaining four state variables constant a t their ergodic ...
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Pay cuts and morale : a test of downward nominal wage rigidity
... This paper tests an in‡uential theory that has been used to explain down- ward nominal wage rigidity, namely the ‘morale’ theory. This proposes that employers are reluctant to cut pay because they ...
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Micro level evidence on wage rigidities in Finland
... In order to analyse the real consequences of downward nominal wage rigidity and inflation Nickell and Quintini 2003 regress the share of negative real wage change on the inflation rate a[r] ...
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Downward nominal and real wage rigidity: Survey evidence from European firms National Bank of Belgium Working Paper No 182, November 2009
... of wage rigidity used in the current study are closely related to alternative indicators derived on the basis of the wage change distribution observed at the individual level (see ...define ...
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Pay growth, fairness and job satisfaction : implications for nominal and real wage rigidity
... involved nominal raises, and most real ...the wage bill is held ‘too high’through downward rigidity, the …rm might need to reduce employment, implying the sample of continuing workers would ...
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Micro level Rigidity vs Macro level Flexibility: Lessons from Finland
... Since downward wage rigidities mean that wage change distributions become asymmetric by shifting the negative nominal and real wage changes upward in the distribution, it means that the [r] ...
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Nominal and real wage flexibility in EMU
... of nominal wage rigidity, γ, is stable and significant over sub-samples and not just over the whole period, as it would be if significance reflected only ...real rigidity determined in the ...
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The incidence of nominal and real wage rigidity: An individual based sectoral approach National Bank of Belgium Working Paper, No 191, June 2010
... on downward nominal and real wage rigidities for thirteen sectors in Belgium, Denmark, Spain and ...International Wage Flexibility Project, whereby resistance to nominal and real ...
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Sectoral differences in downward real wage rigidity: workforce composition, institutions, technology and competition
... where nominal wage rigidity is more prevalent, showing that nominal wages of white-collar workers are much less responsive to the aggre- gate unemployment rate than blue-collar workers’ ...for ...
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Understanding sectoral differences in downward real wage rigidity: workforce composition, institutions, technology and competition. NBB Working Papers. No. 156, 19 February 2009
... driving wage rigidity, such as those related to workers ...in wage rigidity across ...no downward nominal rigidity (DNWR) during this period in Belgium, a country with ...
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When Eastern Labour Markets Enter Western Europe CEECs Labour Market Institutions upon Euro Zone Accession
... for wage bargaining ...their nominal wage increase agenda - have only limited impact on EMU wide nominal wage increase (see section ...real wage evolutions may be very different ...
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Wage rigidities and business cycle fluctuations: a linked employer-employee analysis
... higher wage rigidities tend to hire but also to fire more in 2009 as well as in 2011 and ...If wage cuts operated by less rigid firms led to voluntary quits of workers who did not want to accept them, then ...
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Nominal Rigidity and Some New Evidence on the New Keynesian Theory of the Output Inflation Tradeoff
... Along with this New Keynesian argument, there exists an alternative new classical view about the short-run output-inflation tradeoff. In two papers, Lucas (1972, 1973) models the formation of expectation given imperfect ...
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The Real Thing: Nominal Price Rigidity of the Nickel Coke, 1886–1959
... price rigidity is consistent with the findings reported recently by Bils and Klenow (2002), who study the frequency of price changes for 350 categories of consumer goods and services during the 1995– 1997 ...
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European Wage Coordination: Nightmare or Dream to come true? ENEPRI Working Paper No. 20, June 2003
... which wage bargaining is organised in the EU, Japan and the United ...that wage negotiations in the EU predominantly take place at the industry level (an indicator of 2): only in the United Kingdom ...
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On wage formation, wage flexibility and wage coordination : A focus on the nominal wage impact of productivity in Germany, Greece, Ireland, Portugal, Spain and the United States
... Especially for people outside the Europe Union this discussion will be hard to follow. A main question is how several economies, with a common monetary policy, with a certain degree of economic co-operation but with ...
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