Labor Market Structures and the Sacrifice Ratio.
Using OECD panel data for 1961–2000 we provide evidence that the output cost associated with disinflation (the sacrifice ratio) decreases with coordination between wage-setters in the labor market. The relationship holds for alternative measures of labor market coordination and after controlling for...
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| פורמט: | Journal article |
| שפה: | English |
| יצא לאור: |
Elsevier
2010
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