English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Global: Zendy Plus annual

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Global: Zendy Tools annual

Global: Zendy Free Plan

Global: Zendy Tools monthly

Global: Zendy Plus monthly

In the presence of downwardly rigid nominal wages, low inflation may lead to higher equilibrium unemployment by hindering real wage adjustments. This article surveys and analyses the growing evidence on downwardly rigid nominal wages. We not only deal with assessments of the existence and extent of downward nominal wage rigidity, but also discuss its possible explanations and macroeconomic consequences. We conclude that downward nominal wage rigidity does exist, that its extent is substantial and that very likely the real consequences at low, closeto- zero inflation are non-negligible. The results of this strand of research should therefore be taken into account in the formulation of optimal inflation targets.

Sind Nominallöhne starr? Neuere Evidenz und wirtschaftspolitische Implikationen