can commit to wage contracts but cannot commit not to replace incumbent workers. Workers are risk averse, so that there …

We document substantial cross-sectional heterogeneity of German establishments' real wage cyclicality over the business … wages. We estimate a negative connection between establishments' wage cyclicality and their employment cyclicality, thereby …

. Using matched employer-employee dataset, I adopted the estimation strategy proposed by Guiso et al. (2005) to evaluate wage … Portuguese datasets. I found that firms do insure workers against product market uncertainties, but the magnitude of the wage … response differs depending on the nature of the shock. Broadly speaking, the wage response to permanent shocks is twice as high …

In this paper we present an extension of the Taylor model with staggered wages in which wage-setting is also influenced … inflation and the extent of real wage rigidity but that these effects depend on the definition of reference norms (e.g. how … wages in Austria from 1980 to 2006 we show that wage-setting is strongly influenced by reference norms, that the wages of …

transitions between labor status or jobs, whereas for those at the top, earnings changes are mainly induced by wage rate growth …

income in East Germany. The bias difference in labor market expectations explains part of the East-West German wage gap. …

degree of wage rigidity makes monetary policy more effective, i.e. a monetary policy shock transmits faster onto inflation … into monitoring euro area wage dynamics and which appears to treat some of the other labor market information as less … important for monetary policy. -- Labor Market ; wage rigidity ; bargaining ; Bayesian estimation …