Labour market flexibility: what does Banque de France research tell us?

Christian Pfister

Quarterly selection of articles - Bulletin de la Banque de France, 2007, issue 10, 79-93

Abstract: In the euro area, nominal wage rigidities and the speed of disinflationary policy seem to be determinants of the “sacrifice ratio”. In France, wage changes are fairly frequent but largely predetermined, which creates rigidity; by contrast, they seem to be governed more by in-house agreements than by industry-wide agreements.

Keywords: flexibility; labour market; monetary policy; sacrifice ratio; structural policies; wage bargaining. (search for similar items in EconPapers)
JEL-codes: C5 E52 E58 J08 J3 (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:bfr:quarte:2007:10:04

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