Rigid Wages: What Have We Learnt from Microeconometric Studies?

Francis Kramarz ()

Chapter 10 in Advances in Macroeconomic Theory, 2001, pp 194-216 from Palgrave Macmillan

Abstract: Abstract In this survey, I intend to describe the latest efforts of labour economists to analyse wage rigidity both in its existence and in its consequences in various countries, in particular the United States and France. There has been recently a renewed interest in questions surrounding wage rigidity, a central concern of many macroeconomists. In addition, the existence of wage rigidities has been viewed by some analysts as the main reason for the high level of European unemployment, in contrast to the North American situation. The stakes are clear enough so that I do not need to spend much time in this introduction on justifying why we should, as economists, be interested in this topic.

Keywords: Real Wage; Nominal Wage; Wage Rigidity; Wage Change; Wage Bill (search for similar items in EconPapers)
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-0-333-99275-3_10

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DOI: 10.1057/9780333992753_10

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