Identifying inflations grease and sand effects in the labor market

Erica Lynn Groshen () and Mark E. Schweitzer

No 9705, Working Paper from Federal Reserve Bank of Cleveland

Abstract: An effort to distinguish inflations distortionary effects from its facilitation of adjustments to shocks when wages are rigid downward. It uses the following identification strategy: inflation-induced deviations among employers mean wage changes represent unintended intramarket distortions (sand), while inflation-induced, interoccupational wage changes reflect adjustments that might have been prevented by nominal wage rigidity (grease).

Keywords: Inflation (Finance); Wages (search for similar items in EconPapers)
Date: 1997
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Related works:
Chapter: Identifying Inflation’s Grease and Sand Effects in the Labor Market (1999)
Working Paper: Identifying Inflation's Grease and Sand Effects in the Labor Market (1997)
Working Paper: Identifying inflation's grease and sand effects in the labor market (1997)
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