Labour market flexibility: what does Banque de France research tell us?
In the euro area, nominal wage rigidities and the speed of disinflationary policy seem to be determinants of the “sacrifice ratio”. In France, wage changes are fairly frequent but largely predetermined, which creates rigidity; by contrast, they seem to be governed more by in-house agreements than by industry-wide agreements.
Volume (Year): (2007)
Issue (Month): 10 (Winter)
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