Title of article
How strongisthemacroeconomiccasefordownward realwagerigidity?
Author/Authors
SteinarHolden، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2008
Pages
11
From page
605
To page
615
Abstract
Weexploretheexistenceofdownwardrealwagerigidity(DRWR)attheindustrylevel,
basedondatafrom19OECDcountriesfortheperiod1973–1999.Theresultsshowthat
DRWRcompressesthedistributionsofindustrywagechangesoverall,aswellasfor
specificgeographicalregionsandtimeperiods,buttherearenotmanyrealwagecuts
that areprevented.Moreimportant,however,DRWRattenuateslargerrealwagecuts,
thus leadingtohigherrealwages.Thereisstrongerevidencefordownwardnominal
wagerigiditythanforDRWR.Realwagecutsarelessprevalentincountrieswithstrict
employment protectionlegislationandhighuniondensity
Keywords
DownwardrealwagerigidityEmployment protectionlegislationOECDWagesetting
Journal title
Journal of Monetary Economics
Serial Year
2008
Journal title
Journal of Monetary Economics
Record number
846316
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