In this paper I address the question to what extent wages are affected by product market uncertainty. Implicit contract … elasticity of wages to transitory shocks. Unlike these previous findings, my results show that full insurance to transitory …

how wages adjust to unfavorable product demand shocks that raise the risk of displacement through firm closing, and to … to adverse shocks due to their inability to adjust wages downward. Indeed, minimum wage restrictions were seen to … increase the failure rates. - Wages ; displacement risk ; concessions …

labor contract (Lazear 1990). We give empirical content to this proposition by estimating the effects of EPL on entry wages … of the reform on entry wages and a decrease of the returns to tenure by around 20% in the first year and by 8% over the …

During the Great Recession, unemployment increased substantially across several euro area countries, with wages … effect of changes in the composition of workers on wages and wage cyclicality. We find that compositional effects are highly … results partially explain the muted response of the observed wages to the business cycle, as wages decreased more than what …