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Sind Nominallöhne starr? Neuere Evidenz und wirtschaftspolitische Implikationen

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  • Thomas Beissinger
  • Chritoph Knoppik

Abstract

In the presence of downwardly rigid nominal wages, low inflation may lead to higher equilibrium unemployment by hindering real wage adjustments. This article surveys and analyses the growing evidence on downwardly rigid nominal wages. We not only deal with assessments of the existence and extent of downward nominal wage rigidity, but also discuss its possible explanations and macroeconomic consequences. We conclude that downward nominal wage rigidity does exist, that its extent is substantial and that very likely the real consequences at low, close‐to‐zero inflation are non‐negligible. The results of this strand of research should therefore be taken into account in the formulation of optimal inflation targets.

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  • Thomas Beissinger & Chritoph Knoppik, 2005. "Sind Nominallöhne starr? Neuere Evidenz und wirtschaftspolitische Implikationen," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 6(2), pages 171-188, May.
    • Handle: RePEc:bla:perwir:v:6:y:2005:i:2:p:171-188
    DOI: 10.1111/j.1465-6493.2005.00175.x
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    Cited by:

    1. Thomas Beissinger & Chritoph Knoppik, 2005. "Sind Nominallöhne starr? Neuere Evidenz und wirtschaftspolitische Implikationen," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 6(2), pages 171-188, May.
    2. Pfeiffer, Friedhelm, 2004. "Ausmaß und Konsequenzen von Lohnrigiditäten," ZEW Discussion Papers 04-13, ZEW - Leibniz Centre for European Economic Research.
    3. Beissinger, Thomas, 2003. "Strukturelle Arbeitslosigkeit in Europa : eine Bestandsaufnahme (Structural unemployment in Europe * an inventory)," Mitteilungen aus der Arbeitsmarkt- und Berufsforschung, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany], vol. 36(4), pages 411-427.
    4. Pfeiffer, Friedhelm, 2003. "Ausmaß und Konsequenz von Lohnrigiditäten (Extent and consequences of wage regidities)," Mitteilungen aus der Arbeitsmarkt- und Berufsforschung, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany], vol. 36(4), pages 616-633.
    5. Stüber, Heiko & Beißinger, Thomas, 2011. "Geldpolitik und Beschäftigung: Ist niedrige Inflation Gift für den Arbeitsmarkt? (Monetary policy and employment: Is low inflation poison for the labor market?)," IAB-Kurzbericht 201102, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany].
    6. Alfonso Arpaia & Karl Pichelmann, 2007. "Nominal and real wage flexibility in EMU," International Economics and Economic Policy, Springer, vol. 4(3), pages 299-328, November.
    7. Wolfgang Ochel, 2005. "Decentralization of wage negotiations in Germany - a way to create more jobs?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 58(05), pages 07-18, March.
    8. Wolfgang Ochel, 2005. "Decentralizing Wage Bargaining in Germany — A Way to Increase Employment?," LABOUR, CEIS, vol. 19(1), pages 91-121, March.
    9. Beissinger, Thomas, 2003. "Strukturelle Arbeitslosigkeit in Europa: Eine Bestandsaufnahme," University of Regensburg Working Papers in Business, Economics and Management Information Systems 389, University of Regensburg, Department of Economics.
    10. Schettkat, Ronald, 2003. "Koordination von Lohnverhandlungen (Coordination of wage bargaining)," Mitteilungen aus der Arbeitsmarkt- und Berufsforschung, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany], vol. 36(4), pages 634-648.
    11. Beissinger, Thomas, 2003. "Strukturelle Arbeitslosigkeit in Europa : eine Bestandsaufnahme (Structural unemployment in Europe * an inventory)," Mitteilungen aus der Arbeitsmarkt- und Berufsforschung, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany], vol. 36(4), pages 411-427.
    12. Pfeiffer, Friedhelm, 2003. "Ausmaß und Konsequenz von Lohnrigiditäten (Extent and consequences of wage regidities)," Mitteilungen aus der Arbeitsmarkt- und Berufsforschung, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany], vol. 36(4), pages 616-633.
    13. Frank Scharr, 2005. "Tarifbindung, Rententeilung und Konzessionsverträge als Einflussgrößen der Lohnhöhe in Unternehmen : eine Untersuchung mit Mikrodaten für thüringische Firmen," ifo Dresden Studien, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 39, July.
    14. Schettkat, Ronald, 2003. "Koordination von Lohnverhandlungen (Coordination of wage bargaining)," Mitteilungen aus der Arbeitsmarkt- und Berufsforschung, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany], vol. 36(4), pages 634-648.
    15. Bläs, Barno, 2006. "Ausmaß und reale Konsequenzen nach unter starrer Nominallöhne. Eine Untersuchung für den deutschen Arbeitsmarkt," University of Regensburg Working Papers in Business, Economics and Management Information Systems 416, University of Regensburg, Department of Economics.

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    More about this item

    JEL classification:

    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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