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Wage Restraint and Volatility

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Author Info
Daniel Traca () (Centre Emile Bernheim, Solvay Business School, Université Libre de Bruxelles, Brussels)

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Abstract

This paper studies the notion that a rise in job insecurity, due to rising labor market uncertainty, leads to wage moderation - the ‘wage restraint hypothesis’. It begins by finding only mixed theoretical support for this hypothesis, as an increase in uncertainty generates an ambiguous effect on wages, although it raises job insecurity. Then, using industry data, it finds evidence of wage restraint, as volatility significantly lowers the share of(production) wages in value added.

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File URL: http://www.solvay.edu/EN/Research/Bernheim/documents/wp05001.pdf
File Format: application/pdf
File Function: First version, 2005
Download Restriction: no

Publisher Info
Paper provided by Université Libre de Bruxelles, Solvay Brussels School of Economics and Management, Centre Emile Bernheim (CEB) in its series Working Papers CEB with number 05-001.RS.

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Length: 28 pages
Date of creation: Mar 2005
Date of revision:
Handle: RePEc:sol:wpaper:05-001

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Related research
Keywords: Job-insecurity; Globalization; Wage Contracts; Volatility.;

Find related papers by JEL classification:
E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution

This paper has been announced in the following NEP Reports:

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This page was last updated on 2009-12-9.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.