Wage Growth over the Business Cycle: Contractual versus Spot Markets
between these two models in a panel of 14 European countries. Our findings indicate that workers who are hired during recessions or experienced unfavorable economic conditions since they were hired receive larger wage raises during expansions, and are subject to smaller wage cuts during downswings. The change in the unemployment rate, on the other hand, is not a signi cant determinant of wage growth.
|Date of creation:||2010|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://www.EconomicDynamics.org/society.htm
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Paul J. Devereux & Robert A. Hart, 2007.
"The Spot Market Matters: Evidence On Implicit Contracts From Britain,"
Scottish Journal of Political Economy,
Scottish Economic Society, vol. 54(5), pages 661-683, November.
- Devereux, Paul J. & Hart, Robert A., 2005. "The Spot Market Matters: Evidence on Implicit Contracts from Britain," IZA Discussion Papers 1497, Institute for the Study of Labor (IZA).
- Azariadis, Costas, 1975. "Implicit Contracts and Underemployment Equilibria," Journal of Political Economy, University of Chicago Press, vol. 83(6), pages 1183-1202, December.
- Malcomson, James M., 1999.
"Individual employment contracts,"
Handbook of Labor Economics,
in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 35, pages 2291-2372
- Malcomson, J., 1998. "Individual employment contracts," Discussion Paper Series In Economics And Econometrics 9804, Economics Division, School of Social Sciences, University of Southampton.
When requesting a correction, please mention this item's handle: RePEc:red:sed010:1289. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christian Zimmermann)
If references are entirely missing, you can add them using this form.