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Author : Steinar Holden
Publisher :
ISBN 13 : 9788275532327
Total Pages : 33 pages
Book Rating : 4.5/5 (323 download)
Download or read book Downward Nominal Wage Rigidity in Europe written by Steinar Holden and published by . This book was released on 2004 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Steinar Holden
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.3/5 ( download)
Download or read book The Costs of Price Stability - Downward Nominal Wage Rigidity in Europe written by Steinar Holden and published by . This book was released on 2002 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: In most European countries, the prevailing terms of employment, including the nominal wage, can only be changed by mutual consent. I show that this feature implies that workers have a strategic advantage in the wage negotiations when they try to prevent a cut in nominal wages. If inflation is so low that some nominal wages have to be cut, the strategic advantage of the workers' induces higher unemployment in equilibrium. The upshot is a long run tradeoff between inflation and unemployment for low levels of inflation. The prediction that low inflation involves higher unemployment in Europe but not in the US, is consistent with previous empirical findings.
Author : Steinar Holden
Publisher :
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4.:/5 (129 download)
Download or read book The costs price stability-downward nominal wage rigidity in Europe written by Steinar Holden and published by . This book was released on 2002 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Downward Nominal Wage Rigidity in Europe written by and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jan Babecky
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.:/5 (16 download)
Download or read book Downward nominal and real wage rigidity : survey evidence from European firms written by Jan Babecky and published by . This book was released on 2009 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: It has been well established that the wages of individual workers react little, especially downwards, to shocks that hit their employer. This paper presents new evidence from a unique survey of firms across Europe on the prevalence of downward wage rigidity in both real and nominal terms. The authors analyse which firm-level and institutional factors are associated with wage rigidity. The results indicate that it is related to workforce composition at the establishment level in a manner that is consistent with related theoretical models (e.g. efficiency wage theory, insider-outsider theory). The analysis also finds that wage rigidity depends on the labour market institutional environment. Collective bargaining coverage is positively related with downward real wage rigidity, measured on the basis of wage indexation. Downward nominal wage rigidity is positively associated with the extent of permanent contracts and this effect is stronger in countries with stricter employment protection regulations.
Author : Christoph Knoppik
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (863 download)
Download or read book Downward Nominal Wage Rigidity in Europe written by Christoph Knoppik and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Theodora Kosma
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Downward Nominal and Real Wage Rigidity written by Theodora Kosma and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: It has been well established that the wages of individual workers react little, especially downwards, to shocks that hit their employer. This paper presents new evidence from a unique survey of firms across Europe on the prevalence of downward wage rigidity in both real and nominal terms. We analyse which firm-level and institutional factors are associated with wage rigidity. Our results indicate that it is related to workforce composition at the establishment level in a manner that is consistent with related theoretical models (e.g. efficiency wage theory, insideroutsider theory). We also find that wage rigidity depends on the labour market institutional environment. Collective bargaining coverage is positively related with downward real wage rigidity, measured on the basis of wage indexation. Downward nominal wage rigidity is positively associated with the extent of permanent contracts and this effect is stronger in countries with stricter employment protection regulations.
Author :
Publisher :
ISBN 13 : 9789289932646
Total Pages : 46 pages
Book Rating : 4.9/5 (326 download)
Download or read book Nominal Wage Rigidity in the EU Countries Before and After the Great Recession written by and published by . This book was released on 2018 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the recent trends in nominal wage rigidity in a large group of EU countries, using survey data. We analyse two forms of nominal wage rigidity: downward nominal wage rigidity (DNWR) and the lagged response of wages to shocks. The frequency of wage changes, which is an indicator of lagged wage setting, slowed down in the aftermath of the Great Recession. We assess the possible reasons for this and show that it was at least partially caused by a combination of a decline in average wage growth and persistent DNWR. In countries where wage growth slowed down more after the Great Recession, the frequency of wage changes declined more steeply as well. Our data allows evaluating the prevalence of DNWR in diverse economic circumstances. Like earlier research on this topic, we find that DNWR tends to be strongly prevalent, even in periods of slow economic growth and low wage inflation. DNWR declines during severe recessions but even then wage setting does not become completely flexible as the proportion of observed wage cuts is still below the level that would correspond to a flexible regime.
Author : Günter Coenen
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (17 download)
Download or read book Downward Nominal Wage Rigidity and the Long-run Phillips Curve written by Günter Coenen and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Heiko Stüber
Publisher : wbv Media GmbH & Company KG
ISBN 13 : 3763940685
Total Pages : 153 pages
Book Rating : 4.7/5 (639 download)
Download or read book Wage Rigidity in Germany written by Heiko Stüber and published by wbv Media GmbH & Company KG. This book was released on 2013-04-22 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: Die Interaktion zwischen Inflation und Arbeitslosigkeit beschäftigt Forscher und Politiker bereits eine längere Zeit. Doch existiert tatsächlich ein Zielkonflikt zwischen Inflation und Arbeitslosigkeit? Heiko Stüber geht dieser und anderen Fragen, die sich mit Lohnstarreit beschäftigen, nach. Der erste und gewichtigste Teil des Buches beschäftigt sich mit Abwärtsnominallohnstarrheit. Er bietet einen Überblick über Ursachen, Ausmaß und Implikationen dieser Starrheit, betrachtet ihre makroökonomischen Konsequenzen und untersucht inwiefern die Starrheit Arbeitnehmer unterschiedlich betrifft. Der zweite Teil des Buches beschäftigt sich mit der Reallohnrigidität neu eingestellter Arbeitnehmer über den Konjunkturzyklus. Der Buchteil bietet einen kurzen Überblick bisheriger empirischer Untersuchungen und neuester Entwicklungen und stellt empirische Evidenz zur Zyklizität von Einstiegslöhnen in Deutschland bereit.
Author : Orietta Dessy (economista.)
Publisher :
ISBN 13 :
Total Pages : 176 pages
Book Rating : 4.:/5 (954 download)
Download or read book Nominal Wage Rigidity in Europe: Estimates and Institutional Causes written by Orietta Dessy (economista.) and published by . This book was released on 2005 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 : 9789289928250
Total Pages : 25 pages
Book Rating : 4.9/5 (282 download)
Download or read book Asymmetric Wage Adjustment and Employment in European Firms written by and published by . This book was released on 2017 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: We explore the impact of wage adjustment on employment with a focus on the role of downward nominal wage rigidities. We use a harmonised survey dataset, which covers 25 European countries in the period 2010-2013. These data are particularly useful for this paper given the firm-level information on the change in economic conditions and collective pay agreements. Our findings confirm the presence of wage rigidities in Europe: first, collective pay agreements reduce the probability of downward wage adjustment; second, the rise in the probability of downward base wage responses following a decrease in demand is significantly smaller than the rise in the probability of an upward wage response associated with an increase in demand. Estimation results point to a negative effect of downward wage rigidities on employment at the firm level.
Author : Steinar Holden
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (191 download)
Download or read book Downward Nominal Wage Rigidity in the OECD written by Steinar Holden and published by . This book was released on 2007 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent micro studies have documented extensive downward nominal wage rigidity (DNWR)for job stayers in many OECD countries, but the effect on aggregate variables remains disputed. Using data for hourly nominal wages, we explore the existence of DNWR onwages at the industry level in 19 OECD countries, over the period 1973-1999. Based on a novel method, we reject the hypothesis of no DNWE. The fraction of wage cuts preventeddue to DNWR has fallen over time, from 61 percent in the 1970s to 16 percent in the late 1990s, but the number of industries affected by DNWR has increased. DNWR is more prevalent when unemployment is low, union density is high, and employment protection legislation is strict.
Author : Günter Coenen
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (18 download)
Download or read book Downward Nominal Wage Rigidity and the Logn-run Philips Curve written by Günter Coenen and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Steinar Holden
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (18 download)
Download or read book Downward Nomibnal Wage Rigidity in Europe written by Steinar Holden and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Philip Du Caju
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (254 download)
Download or read book Downward Wage Rigidity for Different Workers and Firms written by Philip Du Caju and published by . This book was released on 2007 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper evaluates the extent of downward nominal and real wage rigidity for different categories of workers and firms using the methodology recently developed by the International Wage Flexibility Project(Dickens and Goette, 2006). The analysis is based on an administrative data set on individual earnings, covering one-third of employees of the private sector in Belgium over the period 1990-2002. Our results show that Belgium is characterised by strong real wage rigidity and very low nominal wage rigidity, consistent than for blue-collar workers. Real rigidity decreases with age and wage level. Wage rigidity appears to belower in firms experiencing down turns. Finally, smaller firms and firms with lower job quit rates appear to have more rigid wages. Our results are robust to alternative measures of rigidity.
Author : Yuanyan Sophia Zhang
Publisher : International Monetary Fund
ISBN 13 : 1513508628
Total Pages : 29 pages
Book Rating : 4.5/5 (135 download)
Download or read book European Wage Dynamics and Spillovers written by Yuanyan Sophia Zhang and published by International Monetary Fund. This book was released on 2019-07-19 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Wage rises have remained stubbornly low in advanced Europe in recent years, but, at the same time, newer EU members are experiencing rapid wage acceleration. This paper investigates the drivers of this wage divergence. Econometric analysis using error correction models suggests that wage growth responds more quickly to changes in unemployment in the newer EU members than in advanced Europe, where wages are more closely related to inflation and inflation expectations in the short run, implying greater inertia in nominal wage rises in advanced Europe. In the years after the global crisis, this inertia contributed to the build up of a real wage overhang relative to sharply slowing labor productivity, which subsequently dragged on nominal wage rises even as unemployment began to decline. Spillovers of subdued wage growth between euro area countries also weighed on wage rises in advanced Europe.
