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| Author: | Holzer, H. Montgomery, E. |
| Title: | Asymmetries and rigidities in wage adjustsments by firms |
| Journal: | Review of Economics and Statistics
1993 : AUG, VOL. 75:3, p. 397-408 |
| Index terms: | ADJUSTMENT COSTS COMPANIES PAY |
| Language: | eng |
| Abstract: | The authors use micro data from a survey of firms to test for labour market rigidities and asymmetries in response to demand shifts. The authors analyze wage and employment adjustments to positive and negative shifts, as measured by real sales growth. The results show thw wage adjustments are fairly small compared with employment adjustments. They are also asymmetric, with significant adjustments in response to positive shifts but not negative shifts. These asymmetries are no more pronounced in large firms, manufacturing , heavily-union or highly-skilled industries than in other firms or industries. |
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