In employment relationships, a wage is an installment payment on an implicit long-term agreement between a worker and a … firm. The price of labor that impacts firm's hiring decisions, instead, reflects the hiring wage as well as the impact of … substantially more pro-cyclical than the new-hire wage or the average wage. The strong procyclicality of the price of labor calls …

employment matches. To address both concerns, we estimate cyclicality in labor's user cost exploiting the long-run wage in a … recession affects user cost: It lowers the new-hire wage; it lowers wages going forward in the match; but it also results in …

In employment relationships, a wage is an installment payment on an implicit long-term agreement between a worker and a … firm. The price of labor that impacts firm's hiring decisions, instead, reflects the hiring wage as well as the impact of … substantially more pro-cyclical than the new-hire wage or the average wage. The strong procyclicality of the price of labor calls …

employment matches. To address both concerns, we estimate cyclicality in labor's user cost exploiting the long-run wage in a … recession affects user cost: It lowers the new-hire wage; it lowers wages going forward in the match; but it also results in …

We study the importance of wage rigidities for the monetary policy transmission mechanism. Using uniquely rich micro … data on Swedish wage negotiations, we isolate periods when the labor market is covered by fixed wage contracts. Importantly … monetary policy shocks have a substantially larger impact on production during fixed wage episodes as compared to the average …

This paper uses panel data from the UK (BHPS) and Germany (GSOEP) to investigate the wage effect of entering the labour … market with a temporary job. Further than the previous literature that studied the effect of the contract type on wage … dynamics in the explained part of a wage regression, we also investigate the effect of the starting contract on the variance of …

This paper examines empirically the dynamics of wage floors defined in industry-level wage agreements in France. It … also investigates how industry-level wage floor adjustment interacts with changes in the national minimum wage (NMW … hereafter). For this, we have collected a unique dataset of approximately 3,200 industry-level wage agreements containing about …

We present a new and simple empirical methodology to identify relative wage rigidity dynamics. The methodology is … relative wage and unemployment differentials for various labour market defining characteristics. A simultaneous increase in the … relative wage and the unemployment likelihood is defined as a relative wage rigidity dynamic for a labour market characteristic …