Snell, Andy; Stüber, Heiko - 2014
Theoretical models of downward real wage rigidity generate asymmetric wage cyclicality with real wages being rigid in … establish that such asymmetries are very salient in Germany. We find that the semi elasticity of real wages with respect to … data. Equal treatment is a central driver of downwardly rigid wages in many contracting models (e.g., Hall, 2005; Gertler …