“公平”工资对保加利亚商业周期波动在数量上是否重要?

IF 0.4 Q4 ECONOMICS Review of Economic Perspectives Pub Date : 2020-03-01 DOI:10.2478/revecp-2020-0005
Aleksandar Vasilev
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引用次数: 2

摘要

我们在一般均衡模型中引入“公平”工资,其中工人的努力是不可观察的,并研究这种机制是否可以定量地解释保加利亚劳动力市场的实际工资刚性程度,如Lozev, Vladova和Paskaleva(2011)和Paskaleva(2016)所记录的那样。与Danthine和Kurmann(2004)相反,我们内化了过去工资对当前努力水平的影响。我们将模型校准为保加利亚数据(1999-2016),并在理论设置中量化技术冲击对工时和工资的影响。总体而言,当涉及到劳动力市场变量的相对波动性时,具有“公平”工资的校准模型表现不佳。这是因为,由就业率和过去总工资所代表的总体劳动力市场状况,在数量上对保加利亚的商业周期并不重要。
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Are “fair” wages quantitatively important for business cycle fluctuations in Bulgaria?
Abstract We introduce “fair” wages in a general-equilibrium model where worker’s effort is unobservable and investigate whether such a mechanism can quantitatively account for the degree of real wage rigidity in the Bulgarian labor markets, as documented in Lozev, Vladova, and Paskaleva (2011) and Paskaleva (2016). In contrast to Danthine and Kurmann (2004), we internalize the effect that past wages have on the current effort level. We calibrate the model to Bulgarian data (1999-2016), and quantify the effect of technological shocks on hours and wages in the theoretical setup. Overall, the calibrated model with “fair” wages performs poorly when it comes to the relative volatilities of labor market variables. This is because aggregate labor market conditions, as proxied by the employment rate and past aggregate wages, turn out not to be quantitatively important for business cycles in Bulgaria.
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来源期刊
CiteScore
1.40
自引率
0.00%
发文量
10
审稿时长
38 weeks
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