Labor market structures and the sacrifice ratio
Publication type: Journal Article
Publication date: 2010-09-01
scimago Q2
wos Q2
SJR: 0.914
CiteScore: 3.1
Impact factor: 1.5
ISSN: 01640704, 1873152X
Economics and Econometrics
Abstract
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 standard sacrifice ratio determinants. The sign of the relationship is robust across alternative definitions of the sacrifice ratio, but its statistical significance varies. Our results also indicate that more stringent employment protection laws increase sacrifice ratios, but the effect is not significant at conventional levels. We provide explanations for our findings based on the speed of nominal wage adjustment in New Keynesian models.
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Total citations:
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Citations from 2024:
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(33.33%)
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GOST
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Bowdler C., Nunziata L. Labor market structures and the sacrifice ratio // Journal of Macroeconomics. 2010. Vol. 32. No. 3. pp. 816-826.
GOST all authors (up to 50)
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Bowdler C., Nunziata L. Labor market structures and the sacrifice ratio // Journal of Macroeconomics. 2010. Vol. 32. No. 3. pp. 816-826.
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RIS
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TY - JOUR
DO - 10.1016/j.jmacro.2010.01.003
UR - https://doi.org/10.1016/j.jmacro.2010.01.003
TI - Labor market structures and the sacrifice ratio
T2 - Journal of Macroeconomics
AU - Bowdler, Christopher
AU - Nunziata, Luca
PY - 2010
DA - 2010/09/01
PB - Elsevier
SP - 816-826
IS - 3
VL - 32
SN - 0164-0704
SN - 1873-152X
ER -
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BibTex (up to 50 authors)
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@article{2010_Bowdler,
author = {Christopher Bowdler and Luca Nunziata},
title = {Labor market structures and the sacrifice ratio},
journal = {Journal of Macroeconomics},
year = {2010},
volume = {32},
publisher = {Elsevier},
month = {sep},
url = {https://doi.org/10.1016/j.jmacro.2010.01.003},
number = {3},
pages = {816--826},
doi = {10.1016/j.jmacro.2010.01.003}
}
Cite this
MLA
Copy
Bowdler, Christopher, and Luca Nunziata. “Labor market structures and the sacrifice ratio.” Journal of Macroeconomics, vol. 32, no. 3, Sep. 2010, pp. 816-826. https://doi.org/10.1016/j.jmacro.2010.01.003.