Relative Wage Variability: Monetary Policy and the Labor Market
By explicitly examining the symmetry assumption implicit in much of the efficiency wage literature, a plausible supply-side link between monetary policy and worker productivity is introduced. Specifically, if relative wages influence worker behavior asymmetrically and monetary policy alters relative wages, then monetary policy may ultimately affect productivity. The paper reports evidence consistent with both linkages and, therefore, the monetary authority should concern itself not only with demand-side implications, but also with the additional supply-side consideration.
Volume (Year): 26 (2000)
Issue (Month): 4 (Fall)
|Contact details of provider:|| Postal: |
Phone: (201) 684-7346
Web page: http://www.ramapo.edu/eea/journal.html
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:eej:eeconj:v:26:y:2000:i:4:p:439-454. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Victor Matheson, College of the Holy Cross)
If references are entirely missing, you can add them using this form.