Holdings: Why Firms Avoid Cutting Wages : Survey Evidence from European Firms

Why Firms Avoid Cutting Wages : Survey Evidence from European Firms

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 r...

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Bibliographic Details
Main Authors:	Du Caju, Philip, Kosma, Theodora, Lawless, Martina, Messina, Julian, Room, Tairi
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank Group, Washington, DC 2014
Subjects:	ADVERSE SELECTION AVERAGE WAGE BARGAINING INSTITUTIONS BARGAINING POWER BARGAINING SYSTEM BUSINESS CYCLE CLERKS COLLECTIVE AGREEMENT COLLECTIVE AGREEMENTS COLLECTIVE BARGAINING COLLECTIVE BARGAINING AGREEMENTS COMPANY COMPETITIVE MARKETS DISMISSAL ECONOMIC SHOCKS EFFICIENCY WAGE MODELS EFFICIENCY WAGE THEORIES EFFICIENCY WAGE THEORY EFFICIENCY WAGES EMPLOYEE EMPLOYEE TURNOVER EMPLOYERS EMPLOYMENT CONTRACTS EMPLOYMENT TURNOVER EQUILIBRIUM UNEMPLOYMENT EXISTING WORKFORCE EXPANSIONS EXPLICIT CONTRACTS FIRING FIRM LEVEL FIRM SIZE FIRM SURVEY FIRMS FOREIGN OWNERSHIP HIGH WAGES HIRING HUMAN CAPITAL HUMAN RESOURCES IMPLICIT CONTRACTS INCOME INDUSTRIAL RELATIONS JOB EXPERIENCE JOBS LABOR CONTRACTS LABOR ECONOMICS LABOR FORCE LABOR MARKET LABOR MARKET FLEXIBILITY LABOR MARKET REFORM LABOR MARKET REFORMS LABOR MARKETS LABOR PRODUCTIVITY LABOR REGULATION LABOR RELATIONS LABOR TURNOVER LABOUR LABOUR COST LABOUR COSTS LABOUR FORCE LABOUR MARKET LABOUR MARKET INSTITUTIONS LABOUR MARKET PARTICIPANTS LABOUR MARKET REFORM LABOUR MARKETS LABOUR REGULATION LABOUR REGULATIONS LABOUR RELATIONS LABOUR TURNOVER LABOUR UNIONS LAYOFFS LONG-TERM EMPLOYMENT MONITORING COSTS MOTIVATION NOMINAL WAGES POLITICAL ECONOMY PREVIOUS STUDIES PROBIT REGRESSIONS PRODUCT MARKET PRODUCT MARKET COMPETITION PRODUCTION PROCESS REAL WAGE REAL WAGES RECRUITMENT REMUNERATION RETAIL TRADE RISING UNEMPLOYMENT SKILLED EMPLOYEES SKILLED WORKERS STAFF TEMPORARY WORKERS TOTAL EMPLOYMENT TRADE UNIONS TRAINING COST TRAINING COSTS UNDEREMPLOYMENT UNEMPLOYMENT UNEMPLOYMENT INSURANCE UNION DENSITIES UNIONIZATION WAGE BARGAINING WAGE BARGAINING SYSTEMS WAGE BILL WAGE DETERMINATION WAGE DISPERSION WAGE FLEXIBILITY WAGE INCREASE WAGE LEVEL WAGE RIGIDITIES WAGE RIGIDITY WHITE COLLAR WORKERS WORKER WORKER MORALE WORKER PRODUCTIVITY WORKERS WORKING CONDITIONS
Online Access:	http://hdl.handle.net/10986/19349
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http://hdl.handle.net/10986/19349

Why Firms Avoid Cutting Wages : Survey Evidence from European Firms

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