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An efficiency-wage model with habit concerns about wages
Goerke, Laszlo - 2020
We analyse the implications of habit formation relating to wages in a multi-period efficiency-wage model. If employees have such preferences, their existence provides firms with incentives to raise wages and reduce employment over time. Greater intensity does not necessarily have the same...
Persistent link: https://www.econbiz.de/10012245105
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What explains the rise in CEO pay in Germany? : a panel data analysis for 1977-2009
Fabbri, Francesca; Marin, Dalia - 2012
The compensation of executive board members in Germany has become a highly controversial topic since Vodafone's hostile … unique panel data evidence of the 500 largest firms in Germany in the period 1977-2009 we test two prominent hypothesis in … manager power hypothesis for Germany as executives tend to be rewarded when the sector is doing well rather than the firm they …
Persistent link: https://www.econbiz.de/10009508092
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Import competition and U.S. sentiment toward China
Arezki, Rabah; Duong Trung Le; Nguyen, Ha; Nguyen, Hieu - 2024
We empirically examine how import competition affects sentiment toward China in local communities in the United States using a news-based index for sentiment. Results are threefold. First, U.S. sentiment toward China peaked in 2007 before turning negative. Second, communities more exposed to...
Persistent link: https://www.econbiz.de/10014514814
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Firm wage premia, industrial relations, and rent sharing in Germany
Hirsch, Boris; Müller, Steffen - 2018
This paper investigates the influence of industrial relations on firm wage premia in Germany. OLS regressions for the …
Persistent link: https://www.econbiz.de/10011794610
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Wage policy and endogenous wage rigidity : a representative view from the inside
Agell, Jonas; Bennmarker, Helge - 2002
We report the results from a representative survey of human resource managers in 885 Swedish firms. We estimate that during the severe recession of the 1990s, only 1.1 percent of workers took a cut in regular nominal pay. We trace the lack of wage moderation to a combination of exogenous...
Persistent link: https://www.econbiz.de/10011410449
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Efficiency wages with motivated agents
Armouti-Hansen, Jesper; Cassar, Lea; Deréky, Anna - 2020
Many organizations nowadays combine profits with a social mission. This paper reveals a new hidden benefit of the mission: its role in facilitating the emergence of efficiency wages. We show that in a standard gift-exchange principals highly underestimate agents’ reciprocity and, thereby,...
Persistent link: https://www.econbiz.de/10012258529
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Wage rigidity, institutions, and inflation
Holden, Steinar; Wulfsberg, Fredrik - 2009
A number of recent studies have documented extensive downward nominal wage rigidity (DNWR) for job stayers in many OECD countries. However, DNWR for individual workers may induce downward rigidity or a floorʺ for the aggregate wage growth at positive or negative levels. Aggregate wage growth...
Persistent link: https://www.econbiz.de/10003808631
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Real and nominal wage adjustment in open economies
Forslund, Anders (contributor); Gottfries, Nils (contributor) - 2006
How are wages set in an open economy? What role is played by demand pressure, international competition, and structural factors in the labour market? How important is nominal wage rigidity and exchange rate policy for the evolution of real wages and competitiveness? To answer these questions, we...
Persistent link: https://www.econbiz.de/10003300963
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A theory of wage adjustment under loss aversion
Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - 2014
We present a new theory of wage adjustment, based on worker loss aversion. In line with prospect theory, the workers' perceived utility losses from wage decreases are weighted more heavily than the perceived utility gains from wage increases of equal magnitude. Wage changes are evaluated...
Persistent link: https://www.econbiz.de/10010465159
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Wage setting in times of high and low inflation
Gödl, Maximilian; Gödl-Hanisch, Isabel - 2024
The recent surge in inflation led many unions and firms to alter their bargaining and wage-setting policies. Using novel German firm-level survey data, we document the extent of state dependence in wage setting across firms and workers during periods of high and low inflation. We find state...
Persistent link: https://www.econbiz.de/10015057673