Concept

Real wages

Related publications (4)

Standard model meets gravity: Electroweak symmetry breaking and inflation

We propose a model for combining the Standard Model (SM) with gravity. It relies on a nonminimal coupling of the Higgs field to the Ricci scalar and on the Palatini formulation of gravity. Without introducing any new degrees of freedom in addition to those ...

AMER PHYSICAL SOC2021

Monopsony with nominal rigidities: An inverted Phillips Curve

Charles Cosme Henri Dennery

With nominal wage rigidities, it is crucial to distinguish whether wages are set by workers or firms — whether we have monopoly or monopsony power. This paper provides a model of monopsony power in the labour market and a monopsonistic Phillips Curve. If w ...

2020

AUSTERITY IN THE AFTERMATH OF THE GREAT RECESSION

Christian Pröbsting

We examine austerity in advanced economies since the Great Recession. Austerity shocks are reductions in government purchases that exceed reduced-form forecasts. Austerity shocks are statistically associated with lower real GDP, lower inflation and higher ...

NBER2017

Deep Habits, Price Rigidities and the Consumption Response to Government Spending

This paper inspects the 'deep' habits mechanism originally used by Ravn, Schmitt-Grohé and Uribe (2006) to generate the positive comovement of public and private consumption observed in many VAR studies. In their set-up, the price-elasticity of demand is p ...

Ghent University Faculty of Economics and Business Administration Working Paper 2010/6412011

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