Recent research in macroeconomics emphasizes the role of wage rigidity in accounting for
the volatility of unemployment fluctuations. We use worker-level data from the CPS to …

We document two changes in post-war US macroeconomic dynamics: the procyclicality of
labour productivity vanished, and the relative volatility of employment rose. We propose an …

Over the past 25 years, real average hourly wages in the United States have become
substantially more volatile relative to output. Microdata from the Current Population Survey …

I consider an economy growing along the balanced growth path that is hit by an adverse
shock to its capital accumulation process. The model integrates efficiency wages due to …

In a standard real business cycle model extended to include intangible capital (IC) I show
that a rise in the income share of IC in the production function, in line with data can account …

This paper aims to: a) contribute to the empirical literature on induced technical change by
investigating the wage-productivity nexus at business cycle frequencies in the US economy; …

This paper documents that over the past 25 years, aggregate hourly real wages in the
United States have become substantially more volatile relative to output. We use microdata …

Sažetak The effects of macroeconomic shocks and labour market institutions on employment
in sub-Saharan African countries are examined in this study. Using a sample of 27 SSA …

The distributive conflict is a key characteristic of capitalist economies. Although typically
neglected in neoclassical literature, the role of power relations among social classes has …

We document two changes in postwar US macroeconomic dynamics: the procyclicality of
labour productivity vanished, and the relative volatility of employment rose. We propose an …