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Wage Rigidity: Measurement, Causes and Consequences

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Author Info

  • Lorenz Goette
  • Uwe Sunde
  • Thomas Bauer

Abstract

Wage rigidity - the observation that wages cannot be adjusted downwards - has important implications for labour markets and macroeconomic performance. Empirical evidence on the extent, causes and consequences of wage rigidity on the individual level is relatively scant, however. This Feature presents articles that apply a new methodology to estimate the incidence and extent of nominal and real wage rigidity among the employed in three major European countries (Germany, Italy and Great Britain). The results document the pervasiveness of nominal and, particularly, real wage rigidity in different institutional and economic environments, and a recent decline in real wage rigidity. Copyright 2007 The Author(s). Journal compilation Royal Economic Society 2007.

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Bibliographic Info

Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 117 (2007)
Issue (Month): 524 (November)
Pages: F499-F507

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Handle: RePEc:ecj:econjl:v:117:y:2007:i:524:p:f499-f507

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Cited by:
  1. Jan Babecky & Philip Du Caju & Theodora Kosma & Martina Lawless & Julian Messina & Tairi Room, 2009. "Downward nominal and real wage rigidity : Survey evidence from European firms," Working Paper Research 182, National Bank of Belgium.
  2. Jan Babecky & Philip Du Caju & Theodora Kosma & Martina Lawless & Julian Messina & Tairi Room, 2009. "The margins of labour cost adjustment : Survey evidence from European firms," Working Paper Research 183, National Bank of Belgium.
  3. Messina, Julián & Sanz-de-Galdeano, Anna, 2011. "Wage Rigidity and Disinflation in Emerging Countries," IZA Discussion Papers 5778, Institute for the Study of Labor (IZA).
  4. Ana María Iregui & Ligia Alba Melo & María Teresa Ramírez, . "Rigideces de los salarios a la baja en Colombia: Evidencia empírica a partir de una muestra de salarios a nivel de firma," Borradores de Economia 571, Banco de la Republica de Colombia.
  5. Erkki Koskela & Ronnie Schöb, 2009. "A note on internal and external reference in efficiency wage models," Journal of Economics, Springer, vol. 96(1), pages 79-86, January.
  6. Daniel Dias & Carlos Robalo Marques & Fernando Martins, 2012. "Identifying the determinants of downward wage rigidity: some methodological considerations and new empirical evidence," Working Papers w201215, Banco de Portugal, Economics and Research Department.
  7. Isabella David, 2009. "Composition Bias and Italian Wage Rigidities over the Business Cycle," LABORatorio R. Revelli Working Papers Series 92, LABORatorio R. Revelli, Centre for Employment Studies.
  8. Daniel Horgos, 2012. "International Outsourcing and Wage Rigidity," Global Economy Journal, De Gruyter, vol. 12(2), pages 1.
  9. Ana María Iregui B. & Ligia Alba Melo B. & María Teresa Ramírez G., . "Are wages rigid in Colombia?: Empirical evidence based on a sample of wages at the firm level," Borradores de Economia 571i, Banco de la Republica de Colombia.

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