Are Real Wages Rigid Downwards?

Arbeitspapier

This paper explores the existence of downward real wage rigidity (DRWR) in 19 OECD countries, over the period 1973-1999, using data for hourly nominal earnings at industry level. Based on a nonparametric statistical method, which allows for country and year specific variation in both the median and the dispersion of industry wage changes, we find evidence of some downward rigidity of real wages in OECD countries overall, as well as for regions and time periods. There is some evidence that real wage cuts are less prevalent under strict employment protection legislation and high union density. Generally, we find stronger evidence for downward nominal than for downward real wage rigidity.

Angaben zum Objekt

• ISBN: 978-82-7553-381-2
• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Working Paper ; No. 2007/1

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Semiparametric and Nonparametric Methods: General ; Statistical Simulation Methods: General ; Price Level; Inflation; Deflation
• Thema: OECD ; downward real wage rigidity ; employment protection legislation ; wage setting

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Holden, Steinar ; Wulfsberg, Fredrik
• Ereignis: Veröffentlichung
• (wer): Norges Bank
• (wo): Oslo
• (wann): 2007

Weitere Informationen

• Handle: http://hdl.handle.net/10419/209877
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ