The Role of Labor Market Institutions on Wage and Inflation Dynamics: Empirical Evidence from OECD Economies

Basit Öğe Kaydı
dc.contributor.authorMacit, Fatih
dc.date.accessioned2024-03-13T10:35:11Z
dc.date.available2024-03-13T10:35:11Z
dc.date.issued2010
dc.departmentİstanbul Beykent Üniversitesien_US
dc.description.abstractThis paper investigates empirically how labor market institutions affect wage and inflation dynamics, particularly the volatility of real wage growth and inflation using a panel data for OECD economies. I also look at how the rate of unemployment is affected by the larger set of labor market variables that captures diverse aspects of the labor market. The main finding of the paper is that benefit replacement rate is the most significant variable in explaining the volatility of real wage growth and inflation. Besides that union density and bargaining coordination also play an important role in explaining the volatilities in these variables. These results for the benefit replacement rate and union density also support the findings of the theoretical models. It is also shown that the labor market institutions have a considerable influence on the level of unemployment as higher levels of benefit replacement rate, longer durations of unemployment benefits, and a higher union density are expected to lead to a higher level of unemployment.en_US
dc.identifier.doi10.1016/S0313-5926(10)50003-1
dc.identifier.endpage62en_US
dc.identifier.issn0313-5926
dc.identifier.issue1en_US
dc.identifier.scopus2-s2.0-84930004893
dc.identifier.scopusqualityQ1en_US
dc.identifier.startpage49en_US
dc.identifier.urihttps://doi.org/10.1016/S0313-5926(10)50003-1
dc.identifier.urihttps://hdl.handle.net/20.500.12662/4293
dc.identifier.volume40en_US
dc.identifier.wosWOS:000213274300003
dc.identifier.wosqualityQ1en_US
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoenen_US
dc.publisherElsevier Science Bven_US
dc.relation.ispartofEconomic Analysis And Policyen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.titleThe Role of Labor Market Institutions on Wage and Inflation Dynamics: Empirical Evidence from OECD Economiesen_US
dc.typeArticleen_US

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