haku: @author Keane, M.P. / yhteensä: 3
viite: 3 / 3
« edellinen | seuraava »
| Tekijä: | Keane, M.P. |
| Otsikko: | Nominal-contracting theories of unemployment: evidence from panel data. |
| Lehti: | American Economic Review
1993 : SEP, VOL. 83:4, p. 932-952 |
| Asiasana: | UNEMPLOYMENT PAY |
| Kieli: | eng |
| Tiivistelmä: | This paper examines economy-wide and sector-specific responses of real wages to nominal shocks using micro panel data from the National Longitudinal Survey of Young Men. The observed response patterns provide no support for nominal- contracting theories of unemployment, which predict that nominal surprises should be negatively correlated with real wages. In fact, both inflation and money-growth surprises are found to be essentially uncorrelated with real wages. Either a real-business-cycle model or a model with rigidities in commodity prices could be consistent with these results. |
« edellinen | seuraava »
SCIMA