Labor Market Institutions and Wage and Inflation Dynamics
| dc.contributor.author | Macit, Fatih | |
| dc.date.accessioned | 2024-03-13T10:35:11Z | |
| dc.date.available | 2024-03-13T10:35:11Z | |
| dc.date.issued | 2010 | |
| dc.department | İstanbul Beykent Üniversitesi | en_US |
| dc.description.abstract | This paper develops a New Keynesian (NK) model that incorporates standard search and matching structure with firing costs. I analyze how labor market institutions affect the macroeconomic dynamics, in particular, wage and inflation dynamics. I particularly look at two important labor market institutions namely unemployment benefits and firing costs. I find that in countries where unemployment benefits are higher and there are more strict employment protection legislations, inflation and wages become less volatile and more persistent. I also find that the level of these labor market institutions affect how wages and inflation respond to exogenous shocks, in particular, to productivity and monetary policy shocks. I first present some empirical evidence that shows a cross-country link between labor market institutions and wages and inflation. Then I build a dynamic stochastic general equilibrium model which provides theoretical support for this empirical evidence. | en_US |
| dc.identifier.doi | 10.1016/S0313-5926(10)50038-9 | |
| dc.identifier.endpage | 410 | en_US |
| dc.identifier.issn | 0313-5926 | |
| dc.identifier.issue | 3 | en_US |
| dc.identifier.scopus | 2-s2.0-83555172863 | en_US |
| dc.identifier.scopusquality | Q1 | en_US |
| dc.identifier.startpage | 393 | en_US |
| dc.identifier.uri | https://doi.org/10.1016/S0313-5926(10)50038-9 | |
| dc.identifier.uri | https://hdl.handle.net/20.500.12662/4294 | |
| dc.identifier.volume | 40 | en_US |
| dc.identifier.wos | WOS:000213276100009 | en_US |
| dc.identifier.wosquality | Q1 | en_US |
| dc.indekslendigikaynak | Web of Science | en_US |
| dc.indekslendigikaynak | Scopus | en_US |
| dc.language.iso | en | en_US |
| dc.publisher | Elsevier Science Bv | en_US |
| dc.relation.ispartof | Economic Analysis And Policy | en_US |
| dc.relation.publicationcategory | Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı | en_US |
| dc.rights | info:eu-repo/semantics/openAccess | en_US |
| dc.title | Labor Market Institutions and Wage and Inflation Dynamics | en_US |
| dc.type | Article | en_US |
