14:15 - 15:45
Workers’ bargaining Power and the Phillips Curve
We use a general equilibrium model to show that a decrease in workers' bargaining power amplifies the relative contribution to the output gap of adjustments along the extensive margin of labour utilization. This mechanism reduces the cyclical movements of marginal cost (and inflation) relative to those of the output gap.
Who
Where
Personal details
Dr Marco Jacopo Lombardi joined the BIS in June 2012 from the European Central Bank, where he worked in the Directorate General Economics. He holds a PhD in applied statistics from the University of Florence and has been Max Weber Fellow of the European University Institute. His research covers a broad range of applied issues, including monetary policy, commodities, forecasting, econometric methods and macroeconometric models.
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Economist
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