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Procyclical real wages under nominal-wage contracts with productivity variations

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  • James G. Hoehn

Abstract

A modification of existing sticky-wage models to account for the observed cyclical behavior of real wages by means of a model that introduces productivity factors into nominal-wage contracts.

Suggested Citation

  • James G. Hoehn, 1988. "Procyclical real wages under nominal-wage contracts with productivity variations," Economic Review, Federal Reserve Bank of Cleveland, vol. 24(Q IV), pages 11-23.
    • Handle: RePEc:fip:fedcer:y:1988:i:qiv:p:11-23:n:v.24no.4
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    File URL: http://www.clevelandfed.org/research/review/1988/88-q4-hoehn.pdf
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    Cited by:

    1. Chandranath Amarasekara & George J. Bratsiotis, 2012. "Monetary policy and real wage cyclicality," Applied Economics, Taylor & Francis Journals, vol. 44(33), pages 4391-4408, November.
    2. Erica L. Groshen & Mark E. Schweitzer, 1996. "Macro- and microeconomic consequences of wage rigidity," Working Papers (Old Series) 9607, Federal Reserve Bank of Cleveland.
    3. Casares, Miguel, 2009. "Wage setting actors and sticky wages: Implications for the business cycle and optimal monetary policy," Economic Modelling, Elsevier, vol. 26(3), pages 571-585, May.
    4. Miguel Casares, 2007. "Wage Setting Actors, StickyWages, and Optimal Monetary Policy," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 0701, Departamento de Economía - Universidad Pública de Navarra.

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