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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. 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.
    3. Erica L. Groshen & Mark E. Schweitzer, 1996. "Macro- and microeconomic consequences of wage rigidity," Working Papers (Old Series) 9607, Federal Reserve Bank of Cleveland.
    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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