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Ausmaß und reale Konsequenzen nach unter starrer Nominallöhne. Eine Untersuchung für den deutschen Arbeitsmarkt

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  • Bläs, Barno
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    Abstract

    Dieser Beitrag analysiert die Existenz und das Ausmaß nach unten starrer Nominallöhne, sowie deren realwirtschaftliche Implikationen für den deutschen Arbeitsmarkt. Unter Verwendung von drei alternativen Modellvarianten für die proportionale Abwärtsnominallohnrigidität wurde auf Grundlage der IABS-Regionalstichprobe (1975-2001) nachgewiesen, dass das Ausmaß der Abwärtsnominallohnrigidität in Deutschland erheblich ist. Die realen Implikationen der nach unten starren Nominallöhne sind bei konstantem Rigiditätsgrad umso höher, je geringer die Inflationsrate ist. Für Inflationsraten unter zwei Prozent sind diese realen Effekte nicht mehr vernachlässigbar. Andererseits konnte im Rahmen dieses Beitrags nachgewiesen werden, dass das Ausmaß der Abwärtsnominallohnrigidität selbst vom inflationären Umfeld abhängt und in Jahren mit niedriger Inflation sinkt. This paper examines the existence and the extent of downward nominal wage rigidity and its real implications on the German labour market. Using the regional file of the IABS-Regionalstichprobe (1975-2001) and applying three alternative models of proportional wage rigidity it was found that the extent of downward nominal wage rigidity in Germany is considerable. The real implications of the downward nominal wage rigidity - under a constant degree of rigidity - are the higher, the lower the inflation rate is. For inflation rates less than two percent the real implications are non-negligible. On the other hand it could be proven that the degree of the rigidity itself sinks during years of low inflation.

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    Bibliographic Info

    Paper provided by University of Regensburg, Department of Economics in its series University of Regensburg Working Papers in Business, Economics and Management Information Systems with number 416.

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    Date of creation: 2006
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    Handle: RePEc:bay:rdwiwi:691

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    Keywords: Lohnstarrheit ; Unfreiwillige Arbeitslosigkeit ; Phillips-Kurve; Lucas-Kritik ; Deutschland; nominal wage rigidity ; equilibrium unemployment ; Phillips Curve ; Lucas Critique ; Germany;

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    1. Joseph G. Altonji & Paul J. Devereux, 1999. "The Extent and Consequences of Downward Nominal Wage Rigidity," NBER Working Papers 7236, National Bureau of Economic Research, Inc.
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    7. Pfeiffer, Friedhelm, 2004. "Ausmaß und Konsequenzen von Lohnrigiditäten," ZEW Discussion Papers 04-13, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
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    9. Lucas, Robert Jr, 1976. "Econometric policy evaluation: A critique," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 1(1), pages 19-46, January.
    10. McLaughlin, Kenneth J., 1994. "Rigid wages?," Journal of Monetary Economics, Elsevier, vol. 34(3), pages 383-414, December.
    11. Seamus Hogan, 1998. "What Does Downward Nominal-Wage Rigidity Imply for Monetary Policy?," Canadian Public Policy, University of Toronto Press, vol. 24(4), pages 513-525, December.
    12. Tobin, James, 1972. "Inflation and Unemployment," American Economic Review, American Economic Association, vol. 62(1), pages 1-18, March.
    13. George A. Akerlof & William R. Dickens & George L. Perry, 1996. "The Macroeconomics of Low Inflation," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 27(1), pages 1-76.
    14. Kuroda, Sachiko & Yamamoto, Isamu, 2003. "Are Japanese Nominal Wages Downwardly Rigid? (Part II): Examinations Using a Friction Model," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 21(2), pages 31-68, August.
    15. Smith, Jennifer C, 2000. "Nominal Wage Rigidity in the United Kingdom," Economic Journal, Royal Economic Society, vol. 110(462), pages C176-95, March.
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