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
Real wage rigidities and the new Keynesian model (2007)
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 K. 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)
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)
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)
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)
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)
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)
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))
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Literaturhinweis
Reasons for wage rigidity in Germany (2006)
Zitatform
Franz, Wolfgang & Friedhelm Pfeiffer (2006): Reasons for wage rigidity in Germany. In: Labour, Jg. 20, H. 2, S. 255-284. DOI:10.1111/j.1467-9914.2006.00345.x
Abstract
"This study investigates institutional and economic reasons for downward wage rigidity regarding three occupational skill groups. Based on a survey of 801 firms in Germany and an econometric analysis, we find strong support for explanations based on the effects of labour union contracts and efficiency wages that differ between skill groups. Survey respondents indicate that labour union contracts and implicit contracts are important reasons for wage rigidity for the (less) skilled. Specific human capital and negative signals for new hires are causes of the stickiness of wages for the highly skilled. Compared with US evidence, German firms seem to attach more importance to labour union contracts and specific human capital." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Reasons for wage rigidity in Germany (2006)
Zitatform
Franz, Wolfgang & Friedhelm Pfeiffer (2006): Reasons for wage rigidity in Germany. (IZA discussion paper 2017), Bonn, 31 S.
Abstract
"This study investigates institutional and economic reasons for downward wage rigidity regarding three occupational skill groups. Based on a survey of 801 firms in Germany and an econometric analysis, we find strong support for explanations based on the effects of labour union contracts and efficiency wages that differ between skill groups. Survey respondents indicate that labour union contracts and implicit contracts are important reasons for wage rigidity for the (less) skilled. Specific human capital and negative signals for new hires are causes of the stickiness of wages for the highly skilled. Compared with US evidence, German firms seem to attach more importance to labour union contracts and specific human capital." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Einstiegslöhne bei unvollkommenen Arbeitsmärkten (2006)
Zitatform
Gernandt, Johannes & Friedhelm Pfeiffer (2006): Einstiegslöhne bei unvollkommenen Arbeitsmärkten. In: Perspektiven der Wirtschaftspolitik, Jg. 7, H. 2, S. 147-172. DOI:10.1111/j.1465-6493.2006.00204.x
Abstract
In dem Aufsatz werden einleitend Lohntheorien vorgestellt, aus denen sich Anhaltspunkte für Lohndifferenzierungen nach der Betriebszugehörigkeitsdauer ergeben. Die in der empirischen Analyse verwendeten Daten stammen aus der IAB-Beschäftigtenstichprobe für die Jahre 1975 bis 1995. Es ergibt sich, dass trotz anhaltend hoher Arbeitslosigkeit die Löhne in Deutschland keine ausreichende Flexibilität nach unten aufweisen. In dem untersuchten Zeitraum gehören etwa 11 Prozent der beschäftigten Arbeitnehmer zu der Gruppe der Einsteiger. Die durchschnittlichen Tagesverdienste dieser Einsteiger liegen um etwa 40 Prozent unter denen der betriebstreuen Arbeitnehmer. Die Entwicklung über die Zeit lässt vermuten, dass die Einstiegslöhne flexibler auf Konjunktur und Arbeitsmarktlage reagieren als die Löhne der betriebstreuen Arbeitnehmer. Insgesamt ergibt sich damit, dass die Arbeitsmärkte für Einsteiger trotz institutioneller Restriktionen und Flächentarifverträgen flexibler sind als vielfach vermutet. (IAB)
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Literaturhinweis
Wage rigidity or fiscal redistribution?: the unemployment bias of time consistent redistributive policies (2006)
Lehmann, Étienne;Zitatform
Lehmann, Étienne (2006): Wage rigidity or fiscal redistribution? The unemployment bias of time consistent redistributive policies. (IZA discussion paper 2116), Bonn, 32 S.
Abstract
"Because of Time Inconsistency considerations, policymakers underestimate the drawbacks of wage rigidity as a redistributive tool. Consequently, they redistribute inefficiently income from high to low skilled workers. They typically implement too much wage rigidity whereas other means (in particular fiscal transfers) could achieve the same redistributive goal with less perverse effect on unemployment. Time inconsistency is more likely due to lack of credibility than to the short-term horizon of policymakers. Hence, policymaking processes should be reformed towards more transparent and binding agreements between government and social partners." (author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Does inflation grease the wheels of the labor market? (2006)
Zitatform
Loboguerrero, Ana Maria & Ugo Panizza (2006): Does inflation grease the wheels of the labor market? In: The B.E. Journal of Macroeconomics, Jg. 6, H. 1, S. 1-30. DOI:10.2202/1534-6005.1450
Abstract
"Inflation can 'grease' the wheels of the labor market by relaxing downward wage rigidity but it can also increase uncertainty and have a negative 'sand' effect. This paper studies the grease effect of inflation by looking at whether the interaction between inflation and labor market regulations affects how employment responds to changes in output. The results show that in industrial countries with highly regulated labor markets, the grease effect of inflation dominates the sand effect. In the case of developing countries, we rarely find a significant effect of inflation or labor market regulations and provide evidence indicating that this could be due to the presence of a large informal sector and limited enforcement of de jure labor market regulations." (Author's abstract, IAB-Doku) ((en))