Inflation and unemployment affect wage rigidity, Icelandic authors find
Two Icelandic economists present evidence that nominal wage rigidity is determined endogenously, in contrast to standard New Keynesian models, in a paper published in the Journal of Monetary Economics.
Rannveig Sigurdardottir, deputy chief economist at the Central Bank of Iceland, and Jósef Sigurdsson, formerly an economist at the central bank, study a unique set of administrative micro-data on the Icelandic labour market in their paper, Time-dependent or state-dependent wage-setting? Evidence
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