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Wage Flexibility and Labour Market Institutions: A Meta-Analysis

  • Clar, Miquel

    ()

    (University of Barcelona)

  • Dreger, Christian

    ()

    (DIW Berlin)

  • Ramos, Raul

    ()

    (University of Barcelona)

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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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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  1. 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 96, National Bank of Belgium.
  2. Juan Duque & Raúl Ramos & Jordi Suriñach, 2006. "Wages and productivity: the role of labour market institutions in OECD countries," Empirica, Springer, vol. 33(4), pages 231-243, September.
  3. Magda Kandil, 2006. "Nominal Wage Flexibility and Economic Performance: Evidence and Implications Across Industrial Countries," Bulletin of Economic Research, Wiley Blackwell, vol. 58(1), pages 25-49, 01.
  4. Peter Nijkamp & Jacques Poot, 2005. "The Last Word on the Wage Curve?," Journal of Economic Surveys, Wiley Blackwell, vol. 19(3), pages 421-450, 07.
  5. Olivier Blanchard & Lawrence F. Katz, 1997. "What We Know and Do Not Know about the Natural Rate of Unemployment," Journal of Economic Perspectives, American Economic Association, vol. 11(1), pages 51-72, Winter.
  6. Bertola, Giuseppe & Blau, Francine D & Kahn, Lawrence, 2001. "Comparative Analysis of Labour Market Outcomes: Lessons for the US from International Long-Run Evidence," CEPR Discussion Papers 3023, C.E.P.R. Discussion Papers.
  7. Christopher Allsopp & Michael J. Artis, 2003. "The Assessment: EMU, Four Years On," Oxford Review of Economic Policy, Oxford University Press, vol. 19(1), pages 1-29.
  8. 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, vol. 34(13), pages 1583-1592.
  9. Decressin, Jorg & Fatas, Antonio, 1995. "Regional labor market dynamics in Europe," European Economic Review, Elsevier, vol. 39(9), pages 1627-1655, December.
  10. 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.
  11. 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, vol. 55(1-2), pages 68-82, January.
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