Bonus Question: How Does Flexible Incentive Pay Affect Wage Rigidity?
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We introduce dynamic incentive contracts into a model of inflation and unemployment dynamics. Our main result is that wage cyclicality from incentives neither affects the slope of the Phillips curve for prices nor dampens unemployments response to shocks. The impulse response of unemployment in
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美国国家经济研究局创建时间：
2023-10-01
