G2TT
来源类型Discussion paper
规范类型论文
来源IDDP4257
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
URLhttps://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.
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