Endogenous Wage Rigidity

Topics:
Labor Contracts,
Unions
Tags:
Wage Rigidity
Source:
Stockholm University

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Overview: This paper uses a random survey of Swedish human resource managers to study the reasons for wage rigidity. The findings are as follows. First, during the exceptional recession of the 1990s only 1.1 percent of workers received a wage cut. Second, much wage rigidity can be traced to behavioral mechanisms involving negative reciprocity, relative wage comparisons and money illusion. Third, the reasons for wage rigidity differ significantly between large and small establishments, and between the high- and low-end of the labor market.

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Format: PDF | Size: 123KB | Date: Aug 2003 | Pages: 40

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