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It has been well established that the wages of individual workers react little, especially downwards, to shocks that hit their employer. This paper presents new evidence from a unique survey of firms across Europe on the prevalence of downward wage rigidity in both real and nominal terms. The authors analyse which firm-level and institutional factors are associated with wage rigidity. The results indicate that it is related to workforce composition at the establishment level in a manner that is consistent with related theoretical models (e.g. efficiency wage theory, insider-outsider theory). The analysis also finds that wage rigidity depends on the labour market institutional environment. Collective bargaining coverage is positively related with downward real wage rigidity, measured on the basis of wage indexation. Downward nominal wage rigidity is positively associated with the extent of permanent contracts and this effect is stronger in countries with stricter employment protection regulations.

Bargaining power --- Central banks --- Collective bargaining --- Efficiency wage theory --- Employment --- Environment --- Environmental Economics & Policies --- Income --- Labor Markets --- Labor markets --- Labor Policies --- Labour --- Labour markets --- Macroeconomics and Economic Growth --- Markets and Market Access --- Nominal wages --- Real income --- Real wages --- Rents --- Rigid wages --- Skilled workers --- Social Protections and Labor --- Unemployment --- Wage flexibility --- Wage increases --- Wage rigidities --- Wage rigidity --- Wages

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In this book Daniel Hamermesh provides the first comprehensive picture of the disparate field of labor demand. The author reviews both the static and dynamic theories of labor demand, and provides evaluative summaries of the available empirical research in these two subject areas. Moreover, he uses both theory and evidence to establish a generalized framework for analyzing the impact of policies such as minimum wages, payroll taxes, job- security measures, unemployment insurance, and others. Covering every aspect of labor demand, this book uses material from a wide range of countries.

331.52 --- Labor demand --- Labor market --- Employees --- Market, Labor --- Supply and demand for labor --- Markets --- Demand, Labor --- Demand for labor --- 331.52 Arbeidsmarktstructuur. Vraag en aanbod op de arbeidsmarkt. Spreiding van arbeidsplaatsen. Spreiden van arbeidskrachten. Tewerkstellingsgraad --- Arbeidsmarktstructuur. Vraag en aanbod op de arbeidsmarkt. Spreiding van arbeidsplaatsen. Spreiden van arbeidskrachten. Tewerkstellingsgraad --- Supply and demand --- Labor demand. --- 331.526 --- 331.123 --- Levels of employment. Employment situation, conditions --- #A9402E --- 331.526 Levels of employment. Employment situation, conditions --- 332.630 --- 332.691 --- AA / International- internationaal --- Strijd tegen de werkloosheid: algemeen. Theorie en beleid van de werkgelegenheid. Volledige werkgelegenheid --- Evolutie van de arbeidsmarkt --- Labour market --- Labor market. --- Marché du travail --- Mercado de trabajo. --- Cobb–Douglas production function. --- Comparative advantage. --- Compensating differential. --- Contract curve. --- Cost curve. --- Demand For Labor. --- Demand response. --- Derived demand. --- Developed country. --- Developing country. --- Earnings. --- Economic cost. --- Economic efficiency. --- Economic forces. --- Economic interventionism. --- Economics. --- Efficiency wage. --- Efficiency. --- Elasticity of intertemporal substitution. --- Elasticity of substitution. --- Employment. --- Endogenous growth theory. --- Estimation. --- Excess supply. --- Externality. --- Factor cost. --- Factor price. --- Implicit cost. --- Income elasticity of demand. --- Indifference curve. --- Induced innovation. --- Inelastic. --- Inflation. --- Instrumental variable. --- Investment goods. --- Isoquant. --- Job security. --- John Haltiwanger. --- Labour supply. --- Law of demand. --- Layoff. --- Living wage. --- Long run and short run. --- Mandatory retirement. --- Manufacturing in the United States. --- Marginal cost. --- Marginal product. --- Marginal rate of substitution. --- Marginal rate of technical substitution. --- Maximum wage. --- Minimum wage. --- Monopsony. --- Neoclassical economics. --- Net Change. --- Net investment. --- New Keynesian economics. --- Oligopoly. --- Outsourcing. --- Partial equilibrium. --- Payroll tax. --- Phillips curve. --- Present value. --- Price Change. --- Price elasticity of demand. --- Price elasticity of supply. --- Production function. --- Productive efficiency. --- Productivity. --- Profit (economics). --- Profit maximization. --- Real business-cycle theory. --- Real versus nominal value (economics). --- Real wages. --- Recession. --- Reservation wage. --- Response Lag. --- Risk aversion. --- Scarcity. --- Shephard's lemma. --- Shortage. --- Stephen Nickell. --- Subsidy. --- Substitution effect. --- Supply (economics). --- Supply and demand. --- Supply shock. --- Tax incidence. --- Tax. --- Theory of the firm. --- Time preference. --- Total cost. --- Total factor productivity. --- Trade barrier. --- Unemployment in the United States. --- Unemployment. --- Utility. --- Utilization. --- Variable cost. --- Wage.