Inflation adjustment and labour market structures
Subtitle: evidence from a multi-country study
By: by Luca Nunziata, Christopher Bowdler.
Series: Discussion paper ;; no. 1510; Discussion paper (Forschungsinstitut zur Zukunft der Arbeit : Online) ;; no. 1510
Publisher: IZA
Published: 2005
Place of publication: Bonn, Germany
Language: eng
Format: Electronic resource
Subjects: Labor market -- Case studies.; Labor supply -- Case studies.; Labor unions -- Case studies.; Inflation (Finance) -- Case studies.
Genres: Case studies.
Description: "An empirical analysis of the impact of labour market structures on the response of inflation to macroeconomic shocks is presented. Results based on a 20 country panel show that if labour market coordination is high, the effect on inflation of movements in unemployment, import prices, tax rates and productivity is dampened, both on impact and dynamically. In contrast, monopoly power in labour supply, measured by the percentage unionisation of the workforce, appears to amplify the response of inflation to its reduced form determinants. These findings are attributed to the behaviour of wages following movements in demand- and supply-side conditions"--Forschungsinstitut zur Zukunft der Arbeit web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 4/26/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.