Some Macroeconomic and Monetary Policy Implications of New Micro Evidence on Wage Dynamics
Grégory de Walque,
Juan F Jimeno (),
Hervé Le Bihan,
Stephen Millard () and
Journal of the European Economic Association, 2010, vol. 8, issue 2-3, 506-513
This paper investigates the macroeconomic relevance of new findings regarding nominal wage stickiness, wage indexation, wage staggering and synchronisation, and downward nominal and real wage rigidity in the euro area. Quantifying the relevance of this evidence for monetary policy remains to be fully resolved, but our results suggest that countries with lower indexation and higher wage stickiness for newly hired workers experience higher employment volatility and lower inflation volatility, and that wage staggering and synchronisation of wage changes in particular months result in less persistence in real wages and inflation. (JEL: E24, E52) (c) 2010 by the European Economic Association.
JEL-codes: E24 E52 (search for similar items in EconPapers)
References: Add references at CitEc
Citations: View citations in EconPapers (13) Track citations by RSS feed
Downloads: (external link)
http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1542-4774/issues link to full text (text/html)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:tpr:jeurec:v:8:y:2010:i:2-3:p:506-513
Access Statistics for this article
Journal of the European Economic Association is currently edited by Xavier Vives, George-Marios Angeletos, Orazio P. Attanasio, Fabio Canova and Roberto Perotti
More articles in Journal of the European Economic Association from MIT Press
Bibliographic data for series maintained by Kelly McDougall ().