* 1 Result enter search term Search Reset filter Suchfilter Content Type Publications (1) Publication Type Working Paper (1) Research Forecasting and Business Cycle Analysis (1) Macroeconomic Research (1) Experts Dennis J. Snower (1) Inske Pirschel (1) Steffen Ahrens (1) Date Last Month Last Year Select Period start date to end date Sort by Relevance Date Aktive Filter Tags: downward wage sluggishness Remove all filters Working Paper Path-Dependent Wage Responsiveness 01.12.2014 We present a theory of nominal wage adjustment based on worker loss aversion, along the lines of prospect theory. Wage changes are evaluated relative to an endogenous reference wage, which depends on the workers’ rational wage expectations from the...
Working Paper Path-Dependent Wage Responsiveness 01.12.2014 We present a theory of nominal wage adjustment based on worker loss aversion, along the lines of prospect theory. Wage changes are evaluated relative to an endogenous reference wage, which depends on the workers’ rational wage expectations from the...