{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,9,24]],"date-time":"2026-09-24T07:00:55Z","timestamp":1790233255039,"version":"4.1.0"},"reference-count":87,"publisher":"Wiley","license":[{"start":{"date-parts":[[2026,9,2]],"date-time":"2026-09-02T00:00:00Z","timestamp":1788307200000},"content-version":"vor","delay-in-days":0,"URL":"http:\/\/onlinelibrary.wiley.com\/termsAndConditions#vor"},{"start":{"date-parts":[[2026,9,2]],"date-time":"2026-09-02T00:00:00Z","timestamp":1788307200000},"content-version":"tdm","delay-in-days":0,"URL":"http:\/\/doi.wiley.com\/10.1002\/tdm_license_1.1"}],"content-domain":{"domain":["onlinelibrary.wiley.com"],"crossmark-restriction":true},"short-container-title":["J of Applied Econometrics"],"abstract":"<jats:title>ABSTRACT<\/jats:title>\n                  <jats:p>Wage markup shocks, an important driver of business cycles, are hard to pin down. We quantify the importance of exogenous variation in wage bargaining power, one source of those shocks, from German minimum wage introduction episodes and strikes. This disciplines the impulse responses of unemployment and output, and sharpens inference for other variables, which behave consistently with predictions from search\u2010and\u2010matching models. We find that wage bargaining shocks meaningfully contribute to aggregate fluctuations in unemployment and inflation, exhibit substantial pass\u2010through to prices, and imply plausible dynamics for the vacancy rate, firms' profits, and the labor share.<\/jats:p>","DOI":"10.1002\/jae.70086","type":"journal-article","created":{"date-parts":[[2026,9,2]],"date-time":"2026-09-02T08:17:41Z","timestamp":1788337061000},"update-policy":"https:\/\/doi.org\/10.1002\/crossmark_policy","source":"Crossref","is-referenced-by-count":0,"title":["Striking a Bargain: Narrative Identification of Wage Bargaining Shocks"],"prefix":"10.1002","author":[{"given":"\u017dymantas","family":"Budrys","sequence":"first","affiliation":[{"name":"Lietuvos Bankas and Vilnius University  Vilnius Lithuania"},{"name":"European Central Bank  Frankfurt am Main Germany"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Mario","family":"Porqueddu","sequence":"additional","affiliation":[{"name":"European Central Bank  Frankfurt am Main Germany"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Andrej","family":"Sokol","sequence":"additional","affiliation":[{"name":"European Central Bank  Frankfurt am Main Germany"},{"name":"Bloomberg LP  Frankfurt am Main Germany"}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"311","published-online":{"date-parts":[[2026,9,2]]},"reference":[{"key":"e_1_2_12_2_1","doi-asserted-by":"publisher","DOI":"10.1257\/aer.20161852"},{"key":"e_1_2_12_3_1","doi-asserted-by":"publisher","DOI":"10.1002\/jae.1137"},{"key":"e_1_2_12_4_1","doi-asserted-by":"publisher","DOI":"10.1177\/001979398603900309"},{"key":"e_1_2_12_5_1","first-page":"8","article-title":"IAB\u2010Betriebspanel: Reichweite des Mindestlohns in deutschen Betrieben","volume":"6","author":"Bellmann L.","year":"2015","journal-title":"IAB\u2010Kurzbericht"},{"key":"e_1_2_12_6_1","doi-asserted-by":"publisher","DOI":"10.1257\/mac.20190365"},{"key":"e_1_2_12_7_1","volume-title":"Tarifpolitik der Zukunft: Was wird aus dem Fl\u00e4chentarifvertrag?","author":"Bispinck R.","year":"1995"},{"key":"e_1_2_12_8_1","doi-asserted-by":"publisher","DOI":"10.1162\/00335530360698450"},{"key":"e_1_2_12_9_1","doi-asserted-by":"crossref","unstructured":"Bossler M.2017.\u201cEmployment Expectations and Uncertainties Ahead of the New German Minimum Wage.\u201dSSRN Scholarly Paper ID 3021408 Social Science Research Network Rochester NY.","DOI":"10.1111\/sjpe.12127"},{"key":"e_1_2_12_10_1","unstructured":"Bulligan G. 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