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Employment Effects of Nominal-wage Rigidity
Umar Ahmed FaruquiBank of Canada
其他書名
An Examination Using Wage-settlements Data
出版Bank of Canada, 2000
ISBN06622913449780662291343
URLhttp://books.google.com.hk/books?id=57uFtgAACAAJ&hl=&source=gbs_api
註釋The argument advocating a moderate level of inflation based on the downward nominal-wage rigidity (DNWR) hypothesis rests on three factors: its presence, its extent, and its negative impact in the labour market. This paper focusses on the employment effect of DNWR, reviewing the evidence presented by Simpson, Cameron, and Hum (1998) in light of a potential bias problem associated with their reduced-form model. The paper describes modifications to their employment model that aim to better isolate the effects of DNWR on employment growth. It attempts to control for demand & wage shocks and re-estimates a modified employment equation to better ascertain the employment effects of DNWR.