On Sand and the Role of Grease in Labor Markets: How Does Germany Compare?
IMF Working Papers, September 1, 2002
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- On Sand and the Role of Grease in Labor Markets: How Does Germany Compare?
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Bibliographic details
- Authors: Jörg Decressin, Anja Decressin
- Published: September 1, 2002
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451858006.001
Authors and Publication
- By Jörg Decressin, Anja Decressin
- September 1, 2002
- IMF Working Papers
- Working Paper No. 2002/164
- Volume: 2002
- Issue: 164
- Pages: 37
- DOI: https://doi.org/10.5089/9781451858006.001
- ISBN: 9781451858006
- ISSN: 1018-5941
- Stock No: WPIEA1642002
Research Question and Scope
- Investigates wage setting in (west) Germany using the German Socioeconomic Panel dataset on individuals.
- Compares findings for (west) Germany with those available for the United Kingdom and the United States.
Key Findings
- The fraction of job stayers in (west) Germany who suffer unchanged wages or wage cuts compares with that in similar data for the Anglo-American countries, even after various adjustments for potential reporting errors.
- Nominal wages of job stayers are rigid downward.
- Real wages of job stayers are not rigid downward.
- The macroeconomic effects of the nominal wage rigidity are limited.
- Raising inflation cannot substantially weaken the macroeconomic effects of the nominal wage rigidity.
Subjects and Keywords (as listed)
- Subject: Civil service, Inflation, Labor, Prices, Real wages, Wage adjustments, Wages
- Keywords: base pay, change distribution, civil servant, Civil service, Inflation, Inflation Targets, job stayer, Real wages, Wage adjustments, wage change, wage cut, wage data, wage decline, wage growth, Wage Rigidities, wage rigidity, Wage Setting, Wages, WP
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Source: On Sand and the Role of Grease in Labor Markets: How Does Germany Compare?, Jörg Decressin and Anja Decressin, IMF Working Papers, September 1, 2002, Working Paper No. 2002/164, DOI: https://doi.org/10.5089/9781451858006.001
Content in this bundle
- On Sand and the Role of Grease in Labor Markets: How Does Germany Compare? - WP/02/164