This paper evaluates the extent of wage rigidities in Colombia over a period, 2002-2014, in which the fall in … measure of downward real wage rigidity (DRWR) of 12.09%, four times bigger than their aggregate estimate for the OECD … connection to the wage bargaining system. Amid the absence of effective labor market institutions to make rigidities less …

We show that wage setting in the Colombian manufacturing industry is not fundamentally driven by labor productivity in … minimum wage or the price wedge between manufacturing and consumption prices – together with a higher exposure to … international trade. Implementation of a true wage bargaining system is suggested as a critical policy target to prevent the …

frictional growth (that is, the interplay of wage dynamics and productivity growth). In the light of this result, we consider a … exposition by providing empirical models of wage setting and employment equations for France, Germany, Italy, Japan, Spain, the … (or, equivalently, the wage-productivity gap) deserves the attention of policy makers …

-equation macro labor model including labor demand, labor supply, wage-setting and capital accumulation equations. Financialization …

, unemployment and spatial mobility become the central ones in recession. We also provide evidence of real wage rigidities in both …