How Prevalent Is Downward Rigidity in Nominal Wages? International Evidence from Payroll Records and Pay Slips
نویسندگان
چکیده
منابع مشابه
Pay Cuts and Morale: a Test of Downward Nominal Rigidity
This paper tests the ‘morale’ theory of downward nominal wage rigidity. This theory relies on workers disliking nominal pay cuts: cuts should make workers less happy. We investigate this using panel data on individual employees’ pay and satisfaction. We con...rm that nominal cuts do make workers less happy than if their pay had not fallen. But we ...nd no di¤erence in the e¤ect on happiness of ...
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 کاملIncentive Effects: Statistical Evidence from Payroll Records
CIRANO is a private non-profit organization incorporated under the Québec Companies Act. Its infrastructure and research activities are funded through fees paid by member organizations, an infrastructure grant from the Ministère de lIndustrie, du Commerce, de la Science et de la Technologie, and grants and research mandates obtained by its research teams. The Scientific Series fulfils one of t...
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 کاملThe Impact of Downward Nominal Wage Rigidity on the Unemployment Rate: Quantitative Evidence from Japan
We would like to thank Professors George A. Akerlof (University of California, Berkeley), Souichi Ohta (Nagoya University), Terukazu Suruga (Osaka Prefecture University), Janet L. Yellen (University of California, Berkeley), and Kazuhiro Yuuki (Kyoto University), and participants of the seminars at the Kansai Institute for Social and Economic Research, Keio University, the CIRJE/TCER Macro Conf...
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: Journal of Economic Perspectives
سال: 2019
ISSN: 0895-3309
DOI: 10.1257/jep.33.3.185