Patterns of nominal and real wage rigidity

Louis Christofides and Paris Nearchou

A chapter in Jobs, Training, and Worker Well-being, 2010, pp 301-337 from Emerald Group Publishing Limited

Abstract: We study the distortions that downward nominal and real wage rigidity would induce to a flexible form of a notional, rigidity-free, distribution of wage change using the histogram-location approach. We examine alternative methods of generating the histograms that support the econometric search for rigidity distortions and implement our approach to inflation sub-periods that should be characterised by different patterns of nominal and real rigidities. We establish the general applicability of the approach to these sub-periods and find results consistent with expectations.

Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:eme:rleczz:s0147-9121(2010)0000030013

DOI: 10.1108/S0147-9121(2010)0000030013

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