|کد مقاله||سال انتشار||مقاله انگلیسی||ترجمه فارسی||تعداد کلمات|
|102316||2017||54 صفحه PDF||سفارش دهید||15271 کلمه|
Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)
Journal : Labour Economics, Volume 48, October 2017, Pages 67-86
Analysis of a special dataset constructed from the Survey on Labor Conditions by Type of Employment finds evidence that does not support the downward nominal wage rigidity hypothesis during the 2008â2009 through 2012â2013 period, which was a period of low inflation and low economic growth. Our analysis finds at least one in every four job stayers experienced nominal wage cuts from one year to the next, and few experienced nominal wage freezes. The extent of downward nominal wage flexibility is somewhat greater in Korea than in Great Britain and the United States, which have the most flexible labor markets among OECD countries. Our analysis at the establishment level uncovers the nature of this downward nominal wage flexibility. The observed downward flexibility does not result from a fraction of employers cutting most of their workersâ wages, but from a majority of employers cutting a fraction of their workersâ wages fairly routinely. The size of nominal wage reductions is substantial. In addition, employers tend to âchooseâ high wage earners for wage cuts.