The post-crisis surge in unemployment led to slower nominal wage growth, but this effect has now been reversed in some countries

2016 ◽  
Keyword(s):  
Wage Growth ◽  
Nominal Wage

Monetary and Non-Monetary Inflation Factors

2019 ◽  
Vol 7 (4) ◽  
pp. 9-14
Author(s):  
Ольга Николайчук ◽  
Olga Nikolaychuk ◽  
Э. Зайцева ◽  
E. Zayceva
Keyword(s):  
Financial Stability ◽  
Scientific Research ◽  
Wage Growth ◽  
Macroeconomic Policy ◽  
Nominal Wage ◽  
Graphic Method ◽  
Theoretical Conclusion ◽  
Previous Issue ◽  
Analysis And Synthesis ◽  
The Relationship

In continuation of our scientific research, published in the previous issue of the journal, this article was written. In the process of research, the methods of analysis and synthesis, the graphic method were used. The results of this study prove the general theoretical conclusion about the relationship between nominal wage growth and inflation. Achieving financial stability is possible with a decrease in the rate of inflation. Based on the analysis of the scientific periodic and monographic literature, the calculations we have cited, the article concluded that the reasons for inflation in Russia are mostly non-monetary. But when choosing a macroeconomic policy, it is necessary to base on the coordination of influence on both monetary and non-monetary factors of inflation.

scholarly journals The Relative Power of Employment-to-Employment Reallocation and Unemployment Exits in Predicting Wage Growth

2017 ◽  
Vol 107 (5) ◽  
pp. 364-368 ◽  
Author(s):  
Giuseppe Moscarini ◽  
Fabien Postel-Vinay
Keyword(s):  
Phillips Curve ◽  
Labor Demand ◽  
Wage Growth ◽  
Nominal Wage ◽  
Hourly Wage ◽  
Program Participation ◽  
Hourly Wage Rate ◽  
Wage Inflation ◽  
Labor Market Flows ◽  
Job Finding

We study the cyclical comovement nominal wage growth (either monthly earnings or hourly wage rate) and labor market flows. We use microdata from the Survey of Income and Program Participation over 1996-2013 to purge composition effects in worker and job characteristics and to isolate the reallocative effect of Employer-to-Employer (EE) transitions. We find an “EE wage Phillips curve”: wage inflation comoves positively with EE as strongly as with the employment rate. This correlation holds for job stayers; we interpret the EE rate as a measure of labor demand. We find no analogous evidence for the job-finding rate from unemployment.

scholarly journals Unemployment, wages and collective bargaining in the European Union

2004 ◽  
Vol 10 (4) ◽  
pp. 532-551 ◽  
Author(s):  
Eckhard Hein ◽  
Thorsten Schulten
Keyword(s):  
European Union ◽  
Collective Bargaining ◽  
Real Wage ◽  
Wage Growth ◽  
Social Institutions ◽  
New Keynesian ◽  
Nominal Wage ◽  
The European Union ◽  
Wage Policy ◽  
High Unemployment

This article questions the predominant view on unemployment and wages in the European Union, according to which high unemployment is primarily caused by labour market rigidities, i.e. social institutions and regulations which prevent ‘market-clearing’ real wage levels and structures. The article shows that the foundations of that view coming either from neoclassical or New Keynesian theory are not convincing, neither theoretically nor empirically. Analysis of the developments in the EU during the last four decades shows that the claimed positive relationship between real wage growth and unemployment cannot be found. On the contrary, persistently high unemployment has had strong adverse effects on nominal wage growth and on the labour income share. Weakened union bargaining power and changing collective bargaining structures have contributed to this result. This article therefore concludes that the current EU economic and employment policies aiming at further wage restraint, wage differentiation and decentralisation of collective bargaining are deeply misguided and need to be replaced by an alternative wage policy as part of a growth- and employment-oriented coordination of macroeconomic policies.

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