Some Evidence on the Importance of Sticky Wages

被引：114

作者：

Barattieri, Alessandro ^{[1
]}

Basu, Susanto ^{[2
]}

Gottschalk, Peter ^{[2
]}

机构：

[1] ESG UQAM, Dept Econ, Montreal, PQ H2X 3X2, Canada

[2] Boston Coll, Dept Econ, Chestnut Hill, MA 02467 USA

来源：

AMERICAN ECONOMIC JOURNAL-MACROECONOMICS | 2014年 / 6卷 / 01期

关键词：

STRUCTURAL-CHANGE; MONETARY-POLICY; MICRO-EVIDENCE; PRICE; REAL; FLUCTUATIONS; UNEMPLOYMENT; FLEXIBILITY; CONTRACTS; MOBILITY;

D O I：

10.1257/mac.6.1.70

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We present evidence on the frequency of nominal wage adjustment using SIPP data adjusted for measurement error. The SIPP is a representative sample of the US population. Our main results are: (i) The average quarterly probability of a nominal wage change is between 21.1 and 26.6 percent, depending on the assumptions used. (ii) Wage changes are much more likely when workers change jobs. (iii) The frequency of wage adjustment does not display significant seasonal patterns. (iv) The hazard of a nominal wage change first increases and then decreases, with a peak at 12 months.

引用

页码：70 / 101

页数：32

共 54 条

[11] Bound John., 2001, HDB ECONOMETRICS, P3705, DOI [10.1016/S1573-4412(01)05012-7, DOI 10.1016/S1573-4412(01)05012-7]
[12] Box-Steffensmeier J. M., 2004, EVENT HISTORY MODELI
[13] Bruno Michael, 1985, ECONOMICS OF WORLDWI
[14] STAGGERED PRICES IN A UTILITY-MAXIMIZING FRAMEWORK
CALVO, GA
[J]. JOURNAL OF MONETARY ECONOMICS, 1983, 12 (03) : 383 - 398
[15] CARD D, 1990, AM ECON REV, V80, P669
[16] Card D., 1997, REDUCING INFLATION M, P71
[17] INDEXATION AND INCOMES-POLICY - A STUDY OF WAGE ADJUSTMENT IN UNIONIZED MANUFACTURING
CECCHETTI, SG
[J]. JOURNAL OF LABOR ECONOMICS, 1987, 5 (03) : 391 - 412
[18] Nominal rigidities and the dynamic effects of a shock to monetary policy
Christiano, LJ
Eichenbaum, M
Evans, CL
[J]. JOURNAL OF POLITICAL ECONOMY, 2005, 113 (01) : 1 - 45
[19] Forming priors for DSGE models (and how it affects the assessment of nominal rigidities)
Del Negro, Marco
Schorfheide, Frank
[J]. JOURNAL OF MONETARY ECONOMICS, 2008, 55 (07) : 1191 - 1208
[20] Devereux Paul J., 1999, NATIONAL BUREAU OF E

← 1 2 3 4 5 6 →