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Wage Flexibility and Labour Market Institutions: A Meta-Analysis

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  • Clar, Miquel

    ()
    (University of Barcelona)

  • Dreger, Christian

    ()
    (DIW Berlin)

  • Ramos, Raul

    ()
    (University of Barcelona)

Abstract

Evidence during the nineties about the response of real wages to shocks highlights that this response is substantially lower in European countries than in the United States and that there are important differences among European countries. Which are the reasons that explain these different reactions? In this paper, we apply meta-analytical techniques in order to provide a quantitative summary of the available evidence regarding the influence of labour market institutions on real wage flexibility. We find that the design of the study affects the obtained results, and that in more deregulated labour markets with a lower presence of trade unions, this response is particularly larger.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 2581.

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Length: 28 pages
Date of creation: Jan 2007
Date of revision:
Publication status: published in: Kyklos, 2007, 60(2), 145-163
Handle: RePEc:iza:izadps:dp2581

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Keywords: meta analysis; wage flexibility; institutions;

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References

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  1. Olivier Blanchard & Justin Wolfers, 1999. "The Role of Shocks and Institutions in the Rise of European Unemployment: The Aggregate Evidence," NBER Working Papers 7282, National Bureau of Economic Research, Inc.
  2. Decressin, Jörg & Fatás, Antonio, 1994. "Regional Labour Market Dynamics in Europe," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1085, C.E.P.R. Discussion Papers.
  3. William T. Dickens & Lorenz Goette & Erica L. Groshen & Steinar Holden & Julian Messina & Mark E. Schweitzer & Jarkko Turunen & Melanie E. Ward, 2006. "How wages change : micro evidence from the International Wage Flexibility Project," Working Paper Research, National Bank of Belgium 96, National Bank of Belgium.
  4. Blanchard, O & Katz, L, 1996. "What We Know and Do Not Know about the Natural Rate of Unemployment," Working papers, Massachusetts Institute of Technology (MIT), Department of Economics 96-29, Massachusetts Institute of Technology (MIT), Department of Economics.
  5. Peter Nijkamp & Jacques Poot, 2002. "The Last Word on the Wage Curve?," Tinbergen Institute Discussion Papers 02-029/3, Tinbergen Institute, revised 13 Mar 2003.
  6. Lourens Broersma & Frank A. G. Den Butter, 2002. "An explorative empirical analysis of the influence of labour flows on wage formation," Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 34(13), pages 1583-1592.
  7. Giuseppe Bertola & Francine D. Blau & Lawrence M. Kahn, 2001. "Comparative Analysis of Labor Market Outcomes: Lessons for the US from International Long-Run Evidence," NBER Working Papers 8526, National Bureau of Economic Research, Inc.
  8. Magda Kandil, 2006. "Nominal Wage Flexibility and Economic Performance: Evidence and Implications Across Industrial Countries," Bulletin of Economic Research, Wiley Blackwell, Wiley Blackwell, vol. 58(1), pages 25-49, 01.
  9. Christopher Allsopp & Michael J. Artis, 2003. "The Assessment: EMU, Four Years On," Oxford Review of Economic Policy, Oxford University Press, Oxford University Press, vol. 19(1), pages 1-29.
  10. Kamil Galušèák & Daniel Münich, 2005. "Regional Wage Adjustments and Unemployment: Estimating the Time-Varying Wage Curve (in English)," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, Charles University Prague, Faculty of Social Sciences, vol. 55(1-2), pages 68-82, January.
  11. Juan Duque & Raúl Ramos & Jordi Suriñach, 2006. "Wages and productivity: the role of labour market institutions in OECD countries," Empirica, Springer, Springer, vol. 33(4), pages 231-243, September.
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Cited by:
  1. Rumler, Fabio & Scharler, Johann, 2009. "Labor market institutions and macroeconomic volatility in a panel of OECD countries," Working Paper Series, European Central Bank 1005, European Central Bank.
  2. Joanna Tyrowicz, 2009. "When Eastern Labour Markets Enter Western Europe. CEECs Labour Market Institutions upon Euro Zone Accession," National Bank of Poland Working Papers, National Bank of Poland, Economic Institute 61, National Bank of Poland, Economic Institute.
  3. Philip Du Caju & Catherine Fuss & Ladislav Wintr, 2009. "Understanding sectoral differences in downward real wage rigidity : workforce composition, institutions, technology and competition," Working Paper Research, National Bank of Belgium 156, National Bank of Belgium.
  4. Caju, P. Du & Fuss, C. & Wintr, L., 2012. "Sectoral differences in downward real wage rigidity: workforce composition, institutions, technology and competition," Journal for Labour Market Research, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany], Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany], vol. 45(1), pages 7-22.
  5. Kees Folmer, 2009. "Why do macro wage elasticities diverge? A meta analysis," CPB Discussion Paper 122, CPB Netherlands Bureau for Economic Policy Analysis.
  6. Altavilla, Carlo & Ciccarelli, Matteo, 2010. "Evaluating the effect of monetary policy on unemployment with alternative inflation forecasts," Economic Modelling, Elsevier, Elsevier, vol. 27(1), pages 237-253, January.
  7. Kees Folmer, 2009. "Why do macro wage elasticities diverge?," CPB Memorandum, CPB Netherlands Bureau for Economic Policy Analysis 224, CPB Netherlands Bureau for Economic Policy Analysis.

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