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...
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INFORMATION
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2014/07/01
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Document de travail de recherche sur les politiques
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WPS6976
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1
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1
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2014/07/01
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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
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