Wage Growth over the Business Cycle: Contractual versus Spot Markets
between these two models in a panel of 14 European countries. Our findings indicate that workers who are hired during recessions or experienced unfavorable economic conditions since they were hired receive larger wage raises during expansions, and are subject to smaller wage cuts during downswings. The change in the unemployment rate, on the other hand, is not a signicant determinant of wage growth.
Year of publication: |
2010
|
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Authors: | Kaymak, Baris ; Bellou, Andriana |
Institutions: | Society for Economic Dynamics - SED |
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