significantly smaller than the rise in the probability of an upward wage response associated with an increase in demand. Estimation …

Switzerland where nominal GDP growth has been very low for many years in the 1990s. We find that the rigidity of nominal wages is … unemployment. Moreover, the wage sweep-ups caused by nominal rigidity are strongly correlated with unemployment suggesting that … downward rigidity of nominal wages indeed contributes to unemployment. …

Switzerland where nominal GDP growth has been very low for many years in the 1990s. We find that the rigidity of nominal wages is …, real wages would indeed be quite responsive to unemployment. Moreover, the wage sweep-ups caused by nominal rigidity are … strongly correlated with unemployment suggesting that downward rigidity of nominal wages indeed contributes to unemployment. …

Switzerland where nominal GDP growth has been very low for many years in the 1990s. We find that the rigidity of nominal wages is … unemployment. Moreover, the wage sweep-ups caused by nominal rigidity are strongly correlated with unemployment suggesting that … downward rigidity of nominal wages indeed contributes to unemployment. …

Switzerland where nominal GDP growth has been very low for many years in the 1990s. We find that the rigidity of nominal wages is … unemployment. Moreover, the wage sweep-ups caused by nominal rigidity are strongly correlated with unemployment suggesting that … downward rigidity of nominal wages indeed contributes to unemployment …

Switzerland, traditionally a ?zero unemployment? economy, has seen an unprecedented rise in joblessness in the 1990s … although unemployment fell again to a rather low level after 1997. This paper tests whether Switzerland experienced a negative … shock and find that they were rigid, which can explain the relative unemployment increase for this group. Finally, I test …

unemployment when taking place in industries characterized by low skilled wage rigidity. Thus, in terms of unemployment, not …