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dc.contributor.authorHolden, Steinar
dc.contributor.authorWulfsberg, Fredrik
dc.description.abstractThis paper explores the existence of downward nominal wage rigidity (DNWR) in 19 OECD countries, over the period 1973–1999, using data for hourly nominal wages at industry level. Based on a novel nonparametric statistical method, which allows for country and year specific variation in both the median and the dispersion of industry wage changes, we reject the hypothesis of no DNWR. The fraction of wage cuts prevented due to DNWR has fallen over time, from 70 percent in the 1970s to 11 percent in the late 1990s, but the number of industries affected by DNWR has increased. DNWR is more prevalent when inflation is high, unemployment is low, union density is high and employment protection legislation is strict.nb_NO
dc.publisherNorges Banknb_NO
dc.relation.ispartofseriesWorking Papers;5/2004
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 Internasjonal*
dc.subjectJEL: J3nb_NO
dc.subjectJEL: J5nb_NO
dc.subjectJEL: C14nb_NO
dc.subjectJEL: C15nb_NO
dc.subjectJEL: E31nb_NO
dc.subjectdownward nominal wage rigiditynb_NO
dc.subjectemployment protection legislationnb_NO
dc.subjectwage settingnb_NO
dc.titleDownward Nominal Wage Rigidity in the OECDnb_NO
dc.typeWorking papernb_NO
dc.subject.nsiVDP::Samfunnsvitenskap: 200::Økonomi: 210::Samfunnsøkonomi: 212nb_NO

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Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal
Except where otherwise noted, this item's license is described as Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal