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 …

We define the wage incentive to management as the wage premium the manager earns because of his/her supervising role …

consistent with emerging downward wage rigidities in a low-inflation environment. Compositional effects associated with changes … in labor participation along the business cycle appear to matter less for estimates of wage cyclicality than in developed …

labor demand. Tightening eligibility to short-time work benefits tends to reduce the wage while the impact on unemployment …

This paper formalizes the use of flexible labor contracts in an efficiency wage framework and derives market dualism as … theoretical insights emerge both on the equilibrium wage structure and the incentive problem faced by workers and firms. Since …-term contracts are converted into open-ended contracts is itself an incentive device which acts as a substitute for the wage. It …

We analyse the implications of habit formation relating to wages in a multi-period efficiency-wage model. If employees …. Greater intensity does not necessarily have the same consequences, because wage adjustments counteract the initial level … impact. The firm's response additionally depends on the wage-dependency of dismissal costs since such costs make an …

This paper studies the effect of mandated severance pay in a matching model featuring wage rigidity for ongoing, but … not new, matches. Mandated severance pay matters only if binding real wage rigidities imply inefficient separation under … prevail in the absence of wage rigidity. The results hold under alternative micro-foundations for wage rigidity. …

increasing the rental of capital relative to the wage, and has an ambiguous effect on welfare. At initial high levels of labor …