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Asymmetric wage adjustment and employment in European firms
Marotzke, Petra; Anderton, Bob; Bairrao, Ana; Berson, … - 2017
We explore the impact of wage adjustment on employment with a focus on the role of downward nominal wage rigidities. We use a harmonised survey dataset, which covers 25 European countries in the period 2010-2013. These data are particularly useful for this paper given the firm-level information...
Persistent link: https://www.econbiz.de/10011732749
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Endogenous growth, downward wage rigidity and optimal inflation
Abbritti, Mirko; Consolo, Agostino; Weber, Sebastian - 2021
-run Phillips curve between inflation and unemployment and a trade-off between price distortions and output hysteresis that change … hysteresis effects on unemployment and output. Price level targeting or a Taylor-rule responding to the unemployment rate can …
Persistent link: https://www.econbiz.de/10012745355
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Non-base wage components as a source of wage adaptability to shocks : evidence from European firms, 2010-2013
Babeckij, Jan; Berson, Clémence; Fadejeva, Ludmila; … - 2018
This paper provides evidence on the role of non-base wage components as a channel for firms to adjust labour costs in the event of adverse shocks. It uses data from a firm-level survey for 25 European countries that covers the period 2010-2013. We find that firms subject to nominal wage...
Persistent link: https://www.econbiz.de/10011864135
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Nominal wage rigidity in the EU countries before and after the Great Recession : evidence from the WDN surveys
Branten, Eva; Lamo, Ana; Rõõm, Tairi - 2018
This paper studies the recent trends in nominal wage rigidity in a large group of EU countries, using survey data. We analyse two forms of nominal wage rigidity: downward nominal wage rigidity (DNWR) and the lagged response of wages to shocks. The frequency of wage changes, which is an indicator...
Persistent link: https://www.econbiz.de/10011864159
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Real wages and local unemployment in the euro area
Sanz de Galdeano, Anna (contributor);  … - 2005
unemployment. The results suggest that the elasticity is indeed negative, i.e. that real wages are lower in local labour markets … with higher unemployment. The size of the elasticity for the euro area is similar to that found in previous studies for a … number of countries, including the United States. Furthermore, there is some variation in the unemployment elasticity by …
Persistent link: https://www.econbiz.de/10003001482
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How wages change : micro evidence from the International Wage Flexibility Project
Dickens, William T.; Götte, Lorenz; Groshen, Erica L.; … - 2006
How do the complex institutions involved in wage setting affect wage changes? The International Wage Flexibility Project provides new microeconomic evidence on how wages change for continuing workers. We analyze individuals' earnings in 31 different data sets from sixteen countries, from which...
Persistent link: https://www.econbiz.de/10003396810
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Time variation in U.S. wage dynamics
Hofmann, Boris; Peersman, Gert; Straub, Roland - 2010
This paper explores time variation in the dynamic effects of technology shocks on U.S. output, prices, interest rates as well as real and nominal wages. The results indicate considerable time variation in U.S. wage dynamics that can be linked to the monetary policy regime. Before and after the...
Persistent link: https://www.econbiz.de/10003993976
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What does a technology shock do? : a VAR analysis with model-based sign restrictions
Dedola, Luca (contributor); Neri, Stefano (contributor) - 2006
This paper estimates the effects of technology shocks in VAR models of the U.S., identified by imposing restrictions on the sign of impulse responses. These restrictions are consistent with the implications of a popular class of DSGE models, with both real and nominal frictions, and with...
Persistent link: https://www.econbiz.de/10003398001
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International trade, technological shocks and spillovers in the labour market : a GVAR analysis of the US manufacturing sector
Hiebert, Paul (contributor);  … - 2007
We empirically analyse the response of US manufacturing labour market variables to various shocks, notably to trade openness and technology. The econometric approach involves an application of the recently developed global VAR (GVAR) methodology of Dées, DiMauro, Pesaran, and Smith (2005) to 12...
Persistent link: https://www.econbiz.de/10003422822
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Downward wage rigidity in Hungary
Kátay, Gábor - 2011
Following the approach recently developed for the International Wage Flexibility Project (IWFP), the paper presents new estimates of downward real and nominal wage rigidity for Hungary. Results suggest that nominal rigidity is more prominent in Hungary than real rigidity. When compared to other...
Persistent link: https://www.econbiz.de/10009380436