[태그:] Wages

Nominal wage rigidity has been shown to exist in periods of high inflation, while reduction in nominal pay has been hypothesized to occur in times of low inflation. Nominal wage rigidity would therefore become irrelevant because there is little need to cut nominal pay under high inflation, while the necessary cuts would occur under low inflation. We test this hypothesis by examining Swiss data in ...

Workers who are more impatient search less intensively and set lower reservation wages. The effect of impatience on exit rates from unemployment is therefore unclear. If agents have exponential time preferences, the reservation wage effect dominates for sufficiently patient individuals, so increases in impatience lead to higher exit rates. The opposite is true for agents with hyperbolic time preferences. Using two large longitudinal data sets, ...

초록 없음 Di Tella, R., MacCulloch, R. J., &Oswald, A. J. (2001). Preferences over inflation and unemployment: Evidence from surveys of happiness. American economic review, 91(1), 335-341. https://doi.org/10.1257/aer.91.1.335