Wage rigidity: Measurement, causes and consequences

• 成果类型: Article
• 署名作者: Goette, Lorenz; Sunde, Uwe; Bauer, Thomas
• 署名单位: Federal Reserve System - USA; Federal Reserve Bank - Boston; IZA Institute Labor Economics; University of Bonn; IZA Institute Labor Economics; Ruhr University Bochum
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1111/j.1468-0297.2007.02093.x
• 发表日期: 2007
• 页码: F499-F507
• 关键词: inflation

摘要

Wage rigidity - the observation that wages cannot be adjusted downwards - has important implications for labour markets and macroeconomic performance. Empirical evidence on the extent, causes and consequences of wage rigidity on the individual level is relatively scant, however. This Feature presents articles that apply a new methodology to estimate the incidence and extent of nominal and real wage rigidity among the employed in three major European countries (Germany, Italy and Great Britain). The results document the pervasiveness of nominal and, particularly, real wage rigidity in different institutional and economic environments, and a recent decline in real wage rigidity.