A new econometric approach to the analysis of downward nominal wage rigidity in micro data is proposed, the kernel-location approach. It combines kernel-density estimation and the principle of joint variation of location and shape of the distribution of per cent annual nominal wage changes. The approach provides partial estimates of the counterfactual and factual distributions, of the rigidity function and of the degree of downward nominal wage rigidity. It avoids problematic assumptions of other semi- or non-parametric approaches to downward nominal wage rigidity in micro data and allows a discussion of the type of downward nominal wage rigidity encountered in data.
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Length: Date of creation: 24 May 2006 Date of revision: Handle: RePEc:bay:rdwiwi:662
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