Downward wage rigidity in American technology firms
نویسندگان
چکیده
منابع مشابه
Reciprocity and downward wage rigidity
The employment relationship is to a large extent characterized by incomplete contracts, in which workers have a considerable degree of discretion over the choice of their work effort. This discretion at work kicks in the potential importance of ‘‘gift exchange” or reciprocity between workers and employers in their employment relationship. Built on the seminal work of Akerlof (1980), this paper ...
متن کاملDownward wage rigidity and business cycle asymmetries
The growth rates of wages, unemployment and output of a number of OECD countries have a strongly skewed distribution. In this paper we analyze to what extent downward wage rigidities can explain these empirical business cycle asymmetries. To this aim, we introduce asymmetric wage adjustment costs in a New-Keynesian DSGE model with search and matching frictions in the labor market. Increasing wa...
متن کاملA Study of Downward Nominal Wage Rigidity in Korea
This paper examines downward nominal wage rigidity in Korea using aggregate and individual-level data. We find that the degree of downward nominal wage rigidity differs depending on the data sources used. Results from the aggregate data indicate that, on average, wages have been flexible. By contrast, evidence from the micro data suggests that nominal wages are downwardly rigid most of the time...
متن کاملDownward Nominal-Wage Rigidity: Micro Evidence from Tobit Models
This paper uses Tobit models and data for union contracts to examine the extent of downward nominal-wage rigidity in Canada. To be consistent with important stylized facts, the models allow the variance of the notional wage-change distribution to be time-varying and test for menu-cost effects. The empirical results confirm the importance of using a general specification with a timechanging vari...
متن کاملOptimal Discretionary Monetary Policy under Downward Nominal Wage Rigidity
We study the implications for optimal monetary policy when declining nominal wages is not a viable margin for adjustment to adverse economic conditions. To this end, we develop a New Keynesian model where downward nominal wage rigidity arises endogenously. We show that the optimal policy response to changing economic conditions is asymmetric. Another important finding is that downward nominal r...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Corporate Ownership and Control
سال: 2018
ISSN: 1810-3057,1727-9232
DOI: 10.22495/cocv15i4c1p5