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Geldpolitik und Beschäftigung: Ist niedrige Inflation Gift für den Arbeitsmarkt? (Monetary policy and employment: Is low inflation poison for the labor market?)

Author

Listed:
  • Stüber, Heiko

    (Institute for Employment Research (IAB), Nuremberg, Germany)

  • Beißinger, Thomas

Abstract

"Some economists argue that if nominal wages are downwardly rigid, a certain amount of positive inflation may be necessary to ease firms' real wage adjustments in response to idiosyncratic shocks ('inflation may grease the wheels of the labor market'). New research findings, however, indicate that downward nominal wage rigidity does not provide a strong argument against low inflation targets." (Author's abstract, IAB-Doku) ((en))

Suggested Citation

  • Stüber, Heiko & Beißinger, Thomas, 2011. "Geldpolitik und Beschäftigung: Ist niedrige Inflation Gift für den Arbeitsmarkt? (Monetary policy and employment: Is low inflation poison for the labor market?)," IAB-Kurzbericht 201102, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany].
    • Handle: RePEc:iab:iabkbe:201102
    as

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    References listed on IDEAS

    as
    1. Christoph Knoppik & Thomas Beissinger, 2003. "How Rigid are Nominal Wages? Evidence and Implications for Germany," Scandinavian Journal of Economics, Wiley Blackwell, vol. 105(4), pages 619-641, December.
    2. Elsby, Michael W.L., 2009. "Evaluating the economic significance of downward nominal wage rigidity," Journal of Monetary Economics, Elsevier, vol. 56(2), pages 154-169, March.
    3. 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.
    4. Tobin, James, 1972. "Inflation and Unemployment," American Economic Review, American Economic Association, vol. 62(1), pages 1-18, March.
    5. Thomas Beissinger & Chritoph Knoppik, 2005. "Sind Nominallöhne starr? Neuere Evidenz und wirtschaftspolitische Implikationen," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 6(2), pages 171-188, May.
    6. Holden, Steinar, 1994. "Wage bargaining and nominal rigidities," European Economic Review, Elsevier, vol. 38(5), pages 1021-1039, May.
    Full references (including those not matched with items on IDEAS)

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