The Employment Costs of Downward Nominal-Wage Rigidity
نویسنده
چکیده
Résumé . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . v
منابع مشابه
Wage rigidity and employment adjustment at the firm level: Evidence from survey data ¬リニ
• We investigate how firms adjust labour costs in the presence of wage rigidities. • Portuguese firms adjust labour costs by adjusting the quantity and cost of labour. • Firms with more flexible base wages are 20 pp. less likely to reduce employment. • By cutting labour costs, firms are 35 pp. less likely to reduce employment. a b s t r a c t a r t i c l e i n f o This paper uses firm level sur...
متن کاملDownward wage rigidity in Europe: A new flexible parametric approach and empirical results
We suggest a new parametric approach to estimate the extent of downward nominal wage rigidity in ten European countries between 1994 and 2001. The data base used throughout is the User Data Base (UDB) of the European Community Household Panel (ECHP). The proposed approach is based on the very flexible generalized hyperbolic distribution which allows to model wage change distributions characteri...
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 کاملAre nominal wages downwardly rigid? Evidence from Belgian microdata
It is sometimes argued that resistance to nominal wage cuts would justify a moderate amount of inflation in order to “grease the wheels of the labour market”. While empirical studies tend to find that nominal wages are not downwardly rigid in Anglo-Saxon economies, a number of studies suggest that downward nominal wage rigidity is more widespread among continental European countries. This paper...
متن کاملPay 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 کامل