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Wages, labor or prices : how do firms react to shocks?
Dhyne, Emmanuel; Druant, Martine - 2010
Survey results in 15 European countries for almost 15,000 firms reveal that Belgian firms react more than the average European firm to adverse shocks by reducing permanent and temporary employment. On the basis of a firm-level analysis, this paper confirms that the different reaction to shocks...
Persistent link: https://www.econbiz.de/10003986685
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How are firms’ wages and prices linked : survey evidence in Europe
Druant, Martine; Fabiani, Silvia; Kézdi, Gábor; Lamo, Ana - 2009
This paper presents new evidence on the patterns of price and wage adjustment in European firms and on the extent of nominal rigidities. It uses a unique dataset collected through a firm-level survey conducted in a broad range of countries and covering various sectors. Several conclusions are...
Persistent link: https://www.econbiz.de/10003963741
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Price and wage setting in Portugal : learning by asking
Martins, Fernando - 2011
This paper presents the main findings of a survey conducted on a sample of Portuguese firms. The main aim was to identify some relevant characteristics about the dynamics of prices and wages in Portugal. The most important conclusions are: i) changes to wages are more synchronized than changes...
Persistent link: https://www.econbiz.de/10008935833
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Labour shortages and wage growth
Frohm, Erik - 2021
Tight labour markets are usually accompanied by mounting wage pressures. Yet, in the past decade, wage growth has remained subdued despite the appearance of widespread labour shortages. This paper re-examines labour market conditions since 2007 through the lens of a novel indicator, relative...
Persistent link: https://www.econbiz.de/10012594258
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Product market regulation, business churning and productivity : evidence from the European Union countries
Anderton, Bob; Di Lupidio, Benedetta; Jarmulska, Barbara - 2019
Productivity performance in European countries has been a policy concern for some time. This paper shows that … productivity can be enhanced by product market policies which, by increasing competition and efficiency, facilitate higher rates of … churning, in turn, appears to be positively related to higher total factor productivity at the sector level by facilitating the …
Persistent link: https://www.econbiz.de/10012132481
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Understanding inter-industry wage structures in the euro area
Genre, Véronique; Kohn, Karsten; Momferatou, Daphne - 2009
firm-related characteristics (e.g., capital intensity, productivity) contribute significantly. However, considerable wage …
Persistent link: https://www.econbiz.de/10003832004
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The political economy under monetary union: has the euro made a difference?
Fratzscher, Marcel; Stracca, Livio - 2008
Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much research has focused on understanding this integration process and what benefits and costs it entails. This paper identifies a political economy channel of EMU as the monetary union...
Persistent link: https://www.econbiz.de/10003794175
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The aggregate consequences of default risk : evidence from firm-level data
Besley, Timothy; Roland, Isabelle; Van Reenen, John - 2020
This paper studies the implications of perceived default risk for aggregate output and productivity. Using a model of … credit across firms with heterogeneous productivity. Further, we find that these losses accounted for over half of the … productivity fall between 2008 and 2009, and persisted for smaller (although not larger) firms. …
Persistent link: https://www.econbiz.de/10012241111
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When losses turn into loans : the cost of undercapitalized banks
Blattner, Laura; Farinha, Luísa A.; Rebelo, Francisco - 2019
We provide evidence that a weak banking sector has contributed to low productivity growth following the European … natural experiment to study the effects of reduced bank capital adequacy on productivity. Affected banks respond not only by … the resulting increase in factor misallocation accounts for 20% of the decline in productivity in Portugal in 2012. …
Persistent link: https://www.econbiz.de/10011975387
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Optimal sticky prices under rational inattention
Mac'kowiak, Bartosz; Wiederholt, Mirko - 2009
This paper presents a model in which price setting firms decide what to pay attention to, subject to a constraint on information flow. When diosyncratic conditions are more variable or more important than aggregate conditions, firms pay more attention to idiosyncratic conditions than to...
Persistent link: https://www.econbiz.de/10003831778