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Wage-setting behavior in France: additional evidence from an ad-hoc survey

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  • Montornès, Jérémi
  • Sauner-Leroy, Jacques-Bernard
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    Abstract

    We investigate the wage-setting behavior of French companies using an ad-hoc survey conducted specifically for this study. Our main results are the following. i) Wages are changed infrequently. The mean duration of wage contracts is one year. Wage changes occur at regular intervals during the year and are concentrated in January and July. ii) We find a lower degree of down-ward real wage rigidity and nominal wage rigidity in France compared to the European average. iii) About one third of companies have an internal policy to grant wage increases according to inflation. iv) When companies are faced adverse shocks, only a partial response is transmitted into prices. Companies also adopt cost-cutting strategies. The wage of newly hired employees plays an important role in this adjustment. JEL Classification: E3, D4, L11

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    Bibliographic Info

    Paper provided by European Central Bank in its series Working Paper Series with number 1102.

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    Date of creation: Oct 2009
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    Handle: RePEc:ecb:ecbwps:20091102

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    Keywords: survey data; wage rigidity; wage-setting behavior;

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    Cited by:
    1. Avouyi-Dovi, S. & Fougère, D. & Gautier, E., 2010. "Wage rigidity, collective bargaining and the minimum wage: evidence from French agreement data," Working papers 287, Banque de France.
    2. Giovanni Olivei & Silvana Tenreyro, 2008. "Wage Setting Patterns and Monetary Policy: International Evidence," CEP Discussion Papers dp0872, Centre for Economic Performance, LSE.
    3. Ahmed, Waqas & Choudhary, M. Ali & Khan, Sajawal & Naeem, Saima & Zoega, Gylfi, 2014. "Determinants of wage stickiness in a developing economy," Economic Modelling, Elsevier, vol. 38(C), pages 296-304.

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