Lohnstarrheit / Wage Rigidity
In Krisenzeiten greifen Arbeitgeberinnen und Arbeitgeber eher auf Entlassungen als auf das Mittel der Nominallohnsenkung zurück. Dies kann am Einfluss der Gewerkschaften, an unflexiblen Lohnsystemen der Firmen oder auch an Fairnessnormen liegen. Welche Auswirkungen haben nach unten starre Löhne auf dem Arbeitsmarkt? Führen sie in Verbindung mit einer niedrigen Inflationsrate zu höherer Arbeitslosigkeit? Diese IAB-Infoplattform präsentiert wissenschaftliche Literatur zum Thema Abwärtslohnrigidität.
In times of crisis, employers tend to resort to dismissals instead of the medium of reduction in nominal wages. This may be due to the influence of the trade unions, the inflexibility of company wage systems, or possibly also norms of fairness. What effect do downwardly rigid wages have on the labour market? Do they lead - in conjunction with a lower inflation rate - to higher unemployment? This IAB info platform presents scientific literature on the topic of downward wage rigidity.
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Literaturhinweis
International spill-over effects of labour market rigidities (2008)
Spange, Morten;Zitatform
Spange, Morten (2008): International spill-over effects of labour market rigidities. In: Journal of macroeconomics, Jg. 30, H. 1, S. 157-178. DOI:10.1016/j.jmacro.2006.09.002
Abstract
"This paper analyses the implications of real wage rigidities in a two-country stochastic general equilibrium model. It is shown how real wage rigidities in one country affect welfare in both countries. By assuming that the labour unions within each country decide whether wages are flexible or rigid, it is found that wages will be flexible in either none, one or both of the countries. Hence, even in a symmetric model flexible wages in one country and rigid wages in the other may be an equilibrium. Since there are international spill-over effects of the choice of wage setting regime, the utilitarian solution is also considered. Interestingly, this does not necessarily entail more real wage flexibility than in the Nash equilibrium." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Wage incentives and wage rigidity: a representative view from within (2007)
Agell, Jonas; Bennmarker, Helge;Zitatform
Agell, Jonas & Helge Bennmarker (2007): Wage incentives and wage rigidity. A representative view from within. In: Labour economics, Jg. 14, H. 3, S. 347-369. DOI:10.1016/j.labeco.2006.04.002
Abstract
"A recent literature has used surveys of those who set wages to learn about the nature of wage incentives and the sources of wage rigidity. Methodologically, we overcome many of the objections that have been raised against this work. Substantively, we find that: (i) the reasons for real wage rigidity differ significantly between large and small firms, and between the high- and low-end of the labor market; (ii) efficiency wage mechanisms reinforce rigidities due to worker bargaining power; (iii) money illusion is a widespread phenomenon across all segments of the labor market; (iv) unions reinforce nominal wage rigidities due to external pay comparisons; (v) there appears to be gender differences in pay bargaining and work morale." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Nominal and real wage flexibility in EMU (2007)
Arpaia, Alfonso; Pichelmann, Karl;Zitatform
Arpaia, Alfonso & Karl Pichelmann (2007): Nominal and real wage flexibility in EMU. (European economy. Economic papers 281), Brüssel, 33 S.
Abstract
"Both common macroeconomic shocks and country-specific developments have subjected the flexibility of wage setting mechanisms in the euro area to a stress test in recent years. Against this background, this paper takes a fresh look at wage flexibility in EMU and attempts to draw a few lessons from the experience of the early years. First, we set the stage for the analysis by providing a brief description of the stylised facts regarding nominal and real wage and unit labour cost developments in the euro area over the recent business cycle. Then, the paper presents an empirical assessment of wage inertia based on new econometric estimates of a Phillips-curve type wage equation across euro area countries and offers an interpretation of the main findings with respect to nominal and real wage flexibility. Finally, we investigate the cyclical responsiveness of relative competitive positions among euro area countries. We conclude that from a bird's eye perspective euro area wage and labour cost dynamics have been quite benign in the past couple of years. However, our estimates suggest that persistent cross-country differences in wage and labour cost developments have not always reflected warranted adjustment needs; they are rather indicative of an eventually insufficient degree of nominal and real wage flexibility in the euro area." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
The incidence of nominal and real wage rigidities in Great Britain: 1978-98 (2007)
Barwell, Richard D.; Schweitzer, Mark E.;Zitatform
Barwell, Richard D. & Mark E. Schweitzer (2007): The incidence of nominal and real wage rigidities in Great Britain: 1978-98. In: The economic journal, Jg. 117, H. 524, S. F553-F569. DOI:10.1111/j.1468-0297.2007.02096.x
Abstract
"This article analyses the extent of rigidities in wage setting in Great Britain over the 1980s and 1990s. Our estimation strategy follows the generalised Altonji and Devereux (2000) model discussed in the introduction to this Feature, but it includes modifications to include some special features of the British data. Our estimates reveal that real rigidities in wage setting are more prevalent than nominal rigidities in Great Britain, although the incidence of these real wage rigidities has fallen gradually over time. If firms cannot cut real wages in response to negative demand shocks they may resort to laying off workers. Our results support this micro-foundation of the wage-unemployment Phillips curve: workers who are more likely to be protected from wage cuts are also more likely to lose their jobs." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Real and nominal wage rigidities and the rate of inflation: evidence from West German micro data (2007)
Zitatform
Bauer, Thomas, Holger Bonin, Lorenz Goette & Uwe Sunde (2007): Real and nominal wage rigidities and the rate of inflation. Evidence from West German micro data. In: The economic journal, Jg. 117, H. 524, S. F508-F529. DOI:10.1111/j.1468-0297.2007.02094.x
Abstract
"This article examines real and nominal wage rigidities in West Germany. Using regionally disaggregated register data for 1975-2001, we estimate the extent of both types of wage rigidities from the observed distribution of individual wage changes, taking into account possible measurement error. The fraction of workers facing wage increases that are caused by nominal and particularly real wage rigidity is substantial. The extent of real rigidity rises with inflation and falls with regional unemployment, whereas the opposite holds for nominal rigidity. Overall, the incidence of wage rigidity, which accelerates unemployment growth, is most likely minimised in a moderate inflation environment." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Real wage rigidities and the new Keynesian model (2007)
Blanchard, Olivier; Galí, Jordi;Zitatform
Blanchard, Olivier & Jordi Galí (2007): Real wage rigidities and the new Keynesian model. In: Journal of Money, Credit and Banking, Jg. 39, H. S1, S. 35-65. DOI:10.1111/j.1538-4616.2007.00015.x
Abstract
"Most central banks perceive a trade-off between stabilizing inflation and stabilizing the gap between output and desired output. However, the standard new Keynesian framework implies no such trade-off. In that framework, stabilizing inflation is equivalent to stabilizing the welfare-relevant output gap. In this paper, we argue that this property of the new Keynesian framework, which we call the divine coincidence, is due to a special feature of the model: the absence of nontrivial real imperfections. We focus on one such real imperfection, namely, real wage rigidities. When the baseline new Keynesian model is extended to allow for real wage rigidities, the divine coincidence disappears, and central banks indeed face a trade-off between stabilizing inflation and stabilizing the welfare-relevant output gap. We show that not only does the extended model have more realistic normative implications, but it also has appealing positive properties. In particular, it provides a natural interpretation for the dynamic inflation-unemployment relation found in the data." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Real and nominal wage rigidities in collective bargaining agreements (2007)
Christofides, Louis N.; Nearchou, Paris;Zitatform
Christofides, Louis N. & Paris Nearchou (2007): Real and nominal wage rigidities in collective bargaining agreements. In: Labour economics, Jg. 14, H. 4, S. 695-715. DOI:10.1016/j.labeco.2007.04.002
Abstract
"An earlier study of wage agreements, reached in the Canadian unionized sector between 1976-99, found that wage adjustment is characterized by downward nominal rigidity and significant spikes at zero. We extend this earlier approach to encompass the possibility of real as well as nominal wage rigidity. The addition of real wage rigidity variables enhances earlier results and suggests that real rigidity increases significantly the mass in the histogram bin containing the mean anticipated rate of inflation, as well as in adjacent bins. Downward nominal wage rigidities and spikes at zero remain important." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Downward wage rigidity in Italy: micro-based measures and implications (2007)
Zitatform
Devicienti, Francesco, Agata Maida & Paolo Sestito (2007): Downward wage rigidity in Italy. Micro-based measures and implications. In: The economic journal, Jg. 117, H. 524, S. F530-F552. DOI:10.1111/j.1468-0297.2007.02095.x
Abstract
"Using the 1985-99 WHIP data, we find a sizable amount of downward wage rigidity in Italy, with a prevalence of real over nominal rigidity. The results hold when real rigidity is identified either with reference to collective bargaining dispositions or to price inflation. Consistently with the labour market reforms of the early 1990s, downward rigidities have become less important over time, with the reduction in real rigidities more than offsetting the rise in nominal rigidities. We also find that downward wage rigidities are positively related to labour reallocation and local unemployment rates, hinting at the macroeconomic relevance of our estimates." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
How wages change: micro evidence from the International Wage Flexibility Project (2007)
Dickens, William T.; Goette, Lorenz; Schweitzer, Mark E.; Turunen, Jarkko; Groshen, Erica L.; Holden, Steinar; Messina, Julian; Ward, Melanie E.;Zitatform
Dickens, William T., Lorenz Goette, Erica L. Groshen, Steinar Holden, Julian Messina, Mark E. Schweitzer, Jarkko Turunen & Melanie E. Ward (2007): How wages change. Micro evidence from the International Wage Flexibility Project. In: The Journal of Economic Perspectives, Jg. 21, H. 2, S. 195-214.
Abstract
"Workers' wages are not set in a spot market. Instead, the wages of most workers - at least those who do not switch jobs - typically change only annually and are mediated by a complex set of institutions and factors such as contracts, unions, standards of fairness, minimum wage policy, transfers of risk, and incomplete information. The goal of the International Wage Flexibility Project (IWFP) - a consortium of over 40 researchers with access to individual workers' earnings data for 16 countries - is to provide new microeconomic evidence on how wages change for continuing workers. We investigate the extent of wage flexibility, with a particular focus on the extent of downward wage rigidity; and explore how measures of wage flexibility are affected by the wage-setting regimes that typically vary by country." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Wage rigidity: Measurement, causes and consequences (2007)
Zitatform
Goette, Lorenz, Uwe Sunde & Thomas Bauer (2007): Wage rigidity: Measurement, causes and consequences. In: The economic journal, Jg. 117, H. 524, S. F499-F507. DOI:10.1111/j.1468-0297.2007.02093.x
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." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Testing the morale theory of nominal wage rigidity (2007)
Kawaguchi, Daiji; Ohtake, Fumio;Zitatform
Kawaguchi, Daiji & Fumio Ohtake (2007): Testing the morale theory of nominal wage rigidity. In: Industrial and Labor Relations Review, Jg. 61, H. 1, S. 59-74. DOI:10.1177/001979390706100103
Abstract
"This paper tests the morale theory of nominal wage rigidity, according to which firms resist making nominal cuts to workers' pay even in adverse economic conditions because such cuts hurt worker morale and productivity. The authors analyze data from an employer-employee survey they conducted in Japan in 2000. That year coincided with a rare spell of deflationary recession, which, the authors argue, is a good setting in which to study how nominal pay cuts affect morale. They find that a nominal annual pay freeze, experienced by 21% of the sampled workers, demoralized workers by reducing their trust in the firm, and that even greater demoralization - not wholly attributable to reduced trust - was associated with a nominal pay cut, which affected 17% of the workers. The observed negative relationship between nominal pay cuts and morale persists even when the estimation includes controls and firm fixed effects." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
The kernel-location approach: A new non-parametric approach to the analysis of downward nominal wage rigidity in micro data (2007)
Knoppik, Christoph;Zitatform
Knoppik, Christoph (2007): The kernel-location approach: A new non-parametric approach to the analysis of downward nominal wage rigidity in micro data. In: Economics Letters, Jg. 97, H. 3, S. 253-259. DOI:10.1016/j.econlet.2007.03.010
Abstract
"The kernel-location approach combines kernel-density estimation and the principle of joint variation of location and shape of the distribution of wage changes, to estimate counterfactual and factual distributions of wage changes and degree and form of downward nominal wage rigidity." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
The (ir)relevance of real wage rigidity in the new Keynesian model with search frictions (2007)
Krause, Michael U.; Lubik, Thomas A.;Zitatform
Krause, Michael U. & Thomas A. Lubik (2007): The (ir)relevance of real wage rigidity in the new Keynesian model with search frictions. In: Journal of monetary economics, Jg. 54, H. 3, S. 706-727. DOI:10.1016/j.jmoneco.2005.12.001
Abstract
"We develop a New Keynesian model with search and matching frictions in the labor market. We show that the model generates counterfactual labor market dynamics. In particular, it fails to generate the negative correlation between vacancies and unemployment in the data, i.e., the Beveridge curve. Introducing real wage rigidity leads to a negative correlation, and increases the magnitude of labor market flows to more realistic values. However, inflation dynamics are only weakly affected by real wage rigidity. The reason is that labor market frictions give rise to long-run employment relationships. The measure of real marginal costs that is relevant for inflation in the Phillips curve contains a present value component that varies independently of the real wage." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Why are nominal wages downwardly rigid, but less so in Japan?: an explanation based on behavioral economics and labor market/macroeconomic differences (2007)
Kuroda, Sachiko; Yamamoto, Isamu;Zitatform
Kuroda, Sachiko & Isamu Yamamoto (2007): Why are nominal wages downwardly rigid, but less so in Japan? An explanation based on behavioral economics and labor market/macroeconomic differences. In: Monetary and Economic Studies, Jg. 25, H. 2, S. 45-88.
Abstract
"In this paper, we survey the theoretical and empirical literature to investigate why nominal wages can be downwardly rigid. Looking back from the 19th century until recently, we first examine the existence and extent of downward nominal wage rigidity (DNWR) for several countries. We find that (1) nominal wages were flexible in the 19th century and the first half of the 20th century, but (2) nominal wages were downwardly rigid in almost all the industrialized countries in the second half of the 20th century, although (3) the extent of DNWR varied from country to country. Next, we use a behavioral economics framework to explain the reasons for DNWR. We also explain why the existence and extent of DNWR varied between time periods and/or from country to country, focusing on differences in the labor market characteristics (such as labor mobility and employment protection legislation) and in the macroeconomic environment (such as economic growth and inflation), which can alter employees' and firms' perceptions toward nominal wage cuts." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Wage behaviour and unemployment in Keynes' and New Keynesians' views: a comparison (2007)
Meccheri, Nicola;Zitatform
Meccheri, Nicola (2007): Wage behaviour and unemployment in Keynes' and New Keynesians' views. A comparison. In: European Journal of the History of Economic Thought, Jg. 14, H. 4, S. 701-724. DOI:10.1080/09672560701695521
Abstract
"The paper compares different strands of New Keynesian Economics with regard to Keynes' original work. Two issues are analysed in detail. First, the explanations provided by Keynes and New Keynesians of nominal and real wage behaviour. Second, the different theories concerning the ability of flexible nominal wages in assuring full employment. It is argued that, although involuntary unemployment is a central problem both in Keynes' and New Keynesians' views, referring to the role of nominal and real wages in explaining unemployment, New Keynesians theories present important features that differ, sometimes substantially, from the concepts developed by Keynes in his General Theory." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Note on a generalized wage rigidity result (2007)
Mukherjee, Arijit;Zitatform
Mukherjee, Arijit (2007): Note on a generalized wage rigidity result. In: Economics Bulletin, Jg. 10, H. 12, S. 1-9.
Abstract
"Considering Cournot competition, this note shows that, if the firms differ in labor productivities, the equilibrium wage rates under a centralized labor union are not independent of the number of firms and product differentiation if the labor union charges a uniform wage rate. However, if the centralized labor union can discriminate wage rate between the firms, the equilibrium wage rates do not depend on the number of firms and product differentiation. Hence, whether the wage rigidity result of Dhillon and Petrakis (2002) holds with asymmetric firms depends on the wage setting behavior of the labor union. The effects of the number of firms and product differentiation on the equilibrium wage rate are also shown." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
The impact of globalisation with rigid labour markets (2007)
Seidel, Tobias;Zitatform
Seidel, Tobias (2007): The impact of globalisation with rigid labour markets. München, 216 S.
Abstract
Die Dissertation untersucht die Auswirkungen der Globalisierung auf unvollkommene Arbeitsmärkte. Kapitel 2 und 3 geben einem Überblick über die neuesten Entwicklungstrends der Globalisierung und liefern Erkenntnisse im Hinblick auf die Starrheit der Arbeitsmärkte in entwickelten Industrieländern. Kapitel 4 untersucht Mindestlöhne unter Anwendung eines einfachen Faktorenallokationsmodells und leitet daraus grundlegende Ergebnisse ab. Diese werden in einem Heckscher-Ohlin-Modell in Kapitel 5 verallgemeinert. Kapitel 6 analysiert die Lohnstarrheit mit einem speziellen Faktorenmodell. Abschließend werden die unvollkommenen Arbeitsmärkte in einen neuen ökonomischen geografischen Bezugsrahmen implementiert, um zu zeigen, dass Arbeitslosigkeit die Agglomeration ökonomischer Aktivitäten fördert. Die Hauptaussage ist, dass Arbeitsmarktstarre Wohlfahrtsverluste in einer Reihe von theoretischen Modellen verursacht. Es wird dahingehend argumentiert, dass Lohnzuschüsse helfen können, sowohl das Ineffizienz- als auch das Verteilungsproblem zu überwinden. (IAB)
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Literaturhinweis
Does the choice between wage inequality and unemployment affect productivity growth? (2006)
Arnold, Lutz G.;Zitatform
Arnold, Lutz G. (2006): Does the choice between wage inequality and unemployment affect productivity growth? In: German Economic Review, Jg. 7, H. 1, S. 87-112.
Abstract
Im Beitrag wird der Frage nachgegangen, warum Ökonomien mit starreren Relativlöhnen zwar höhere Arbeitslosigkeit, jedoch kein langsameres Produktionswachstum aufweisen als Ökonomien mit flexibleren Löhnen. Hierzu wird ein OLG-Modell der Produktivitätsentwicklung herangezogen. Es wird gezeigt, dass die geringe Lohndifferenzierung, die mit einer Lohnstarrheit der Relativlöhne einhergeht, auf der einen Seite die Humankapitalakkumulation und damit das Wachstum bremst. Auf der anderen Seite stellt die Arbeitslosigkeit der niedrig Qualifzierten einen Anreiz zur Investition in Humankapital dar, was zu mehr Wachstum führt. Da sich beide Effekte ausgleichen, ist das Wachstum unabhängig vom Grad der Lohnstarrheit. Diese Ergebnisse sind auch robust gegenüber einigen Modifikationen des Modells. (IAB)
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Literaturhinweis
Properties of the histogram location approach and the extent and change of downward nominal wage rigidity in the EU (2006)
Zitatform
Behr, Andreas (2006): Properties of the histogram location approach and the extent and change of downward nominal wage rigidity in the EU. In: European Journal of Comparative Economics, Jg. 3, H. 1, S. 15-29.
Abstract
"The histogram location approach has been proposed by Kahn (1997) to estimate the fraction of wage cuts prevented by downward nominal wage rigidity. In this paper, we analyze the validity of the approach by means of a simulation study which yielded evidence of unbiasedness but also of potential underestimation of rigidity parameter uncertainty and therefore of potential anticonservative inference. We apply the histogram location approach to estimate the extent of downward nominal wage rigidity across the EU for 1995-2001. Our data base is the User Data Base (UDB) of the European Community Household Panel (ECHP). The results show wide variation in the fraction of wage cuts prevented by nominal wage rigidity across the EU. The lowest rigidity parameters are found for the UK, Spain and Ireland, the largest for Portugal and Italy. Analyzing the change of rigidity between sub periods 1995-1997 and 1999-2001 even shows an widening of the differences in nominal wage rigidity. Due to the finding of large differences across the EU, the results imply that the costs of low inflation policies across the EU differ substantially." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Nominal wage rigidities in a new Keynesian model with frictional unemployment (2006)
Bodart, Vincent; Henri, Sneessens; Pierrard, Olivier; Walque, Gregory De; Wouters, Raf;Zitatform
Bodart, Vincent, Gregory De Walque, Olivier Pierrard, Sneessens Henri & Raf Wouters (2006): Nominal wage rigidities in a new Keynesian model with frictional unemployment. (IZA discussion paper 2528), Bonn, 40 S.
Abstract
"In this paper, we propose a search and matching model with nominal stickiness a la Calvo in the wage bargaining. We analyze the properties of the model, first, in the context of a typical real business cycle model driven by stochastic productivity shocks and second, in a fully specified monetary DSGE model with various real and nominal rigidities and multiple shocks. The model generates realistic statistics for the important labor market variables." (Author's abstract, IAB-Doku) ((en))