Firms very rarely cut nominal wages, even in the face of considerable negative economic shocks. This paper uses a unique survey of fourteen European countries to ask firms directly about the incidence of wage cuts and to assess the relevance of a range of potential reasons for why the firms avoid cutting wages. The paper examines how firm characteristics and collective bargaining institutions affect the relevance of each of the common explanations...
انظر المزيد
تفاصيل
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2014/7/01
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ورقة عمل خاصة ببحوث السياسات
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WPS6976
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1
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1
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2014/7/01
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Disclosed
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Why firms avoid cutting wages : survey evidence from European firms
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downward wage rigidity