Wage rigidity: Measurement, causes and consequences

Lorenz Goette, Uwe Sunde and Thomas Bauer (thomas.bauer@rwi-essen.de)

Munich Reprints in Economics from University of Munich, Department of Economics

Abstract: Wage rigidity - the observation that wages cannot be adjusted downwards - has important implications for labour markets and macroeconomic performance. Empirical evidence on the extent, causes and consequences of wage rigidity on the individual level is relatively scant, however. This Feature presents articles that apply a new methodology to estimate the incidence and extent of nominal and real wage rigidity among the employed in three major European countries (Germany, Italy and Great Britain). The results document the pervasiveness of nominal and, particularly, real wage rigidity in different institutional and economic environments, and a recent decline in real wage rigidity.

Date: 2007
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Published in Economic Journal 524 117(2007): pp. F499-F507

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Persistent link: https://EconPapers.repec.org/RePEc:lmu:muenar:20448

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