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Nominal wage rigidity in the European Countries: evidence from the Europanel

Orietta Dessy

No D2-1, 10th International Conference on Panel Data, Berlin, July 5-6, 2002 from International Conferences on Panel Data

Abstract: This paper analyses wage dynamics at individual level using the ECHP data. We compare yearly wage changes of employees in twelve European countries during the 1994-96 time-period. In all the European countries we find evidence of nominal and not real wage rigidity. At the same time, in none of the countries considered wages are completely downwardly rigid. We also compare nominal wage changes of employees staying with the same employer to movers and find that, despite movers distributions are generally more flexible than stayers, surprisingly enough they also have a spike at zero. Explanations of the above results with institutional features of the countries considered are given.

Keywords: wage rigidity; hold-up; risk-sharing; stayers; movers (search for similar items in EconPapers)
JEL-codes: J31 J41 (search for similar items in EconPapers)
Date: 2002-03
New Economics Papers: this item is included in nep-eec
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