| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4257 |
| DP4257 Policy Instrument Choice and non-coordinated Monetary Policy in Interdependent Economies | |
| Alan Sutherland; Giovanni Lombardo | |
| 发表日期 | 2004-02-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | The Paper examines real and nominal wage rigidities. We estimate a switching regime model, in which the observed distribution of individual wage changes, computed from West German register data for 1976-97, is generated by simultaneous processes of real, nominal or no wage rigidity, and measurement error. The fraction of workers facing wage increases that are due to nominal, but mostly real, wage rigidity is substantial. The extent of real rigidity rises with inflation, whereas the opposite holds for nominal rigidity. Overall, the incidence of wage rigidity, which accelerates unemployment growth, is most likely minimized in an environment with moderate inflation. |
| 主题 | Labour Economics |
| 关键词 | Downward wage rigidity Real effects of inflation Collective bargaining Switching regime model West germany |
| URL | https://cepr.org/publications/dp4257 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533223 |
| 推荐引用方式 GB/T 7714 | Alan Sutherland,Giovanni Lombardo. DP4257 Policy Instrument Choice and non-coordinated Monetary Policy in Interdependent Economies. 2004. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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