. We show that firms were able to respond to the Great Recession with substantial real wage cuts and by recruiting more …

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

of a high minimum wage, a typical recession hardly influences the hourly wage of low educated men, but reduces working … persistently affected, but the penalty on the hourly wage (and earnings) increases with experience, and attains roughly -6% ten …

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 …

and Trigari (2009) show this weakness of the model disappears when wage stickiness is introduced to the model. Pissarides … in wage setting: while some wages are sticky, the others are not. We generalise the model to account for this … heterogeneity. We find that the new model with even only a small fraction of sticky wage contracts comes closer to matching the data. …

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. …