Krueger, Alan B.; Pischke, Jörn-Steffen - 2022
is that the U.S. labor market has flexible wages and employment practices, whereas European labor markets are rigid. The … second goal of the paper is to evaluate the labor market rigidities hypothesis. Although greater wage flexibility probably … labor market adjustment seems to take place at a constant real wage in the U.S. This leads to the third goal: to speculate …