Fuss, Catherine; Wintr, Ladislav - Nationale Bank van België/Banque national de Belqique (BNB) - 2009
average labour compensation to microeconomic total factor productivity (TFP). Our results may be summarised as follows. First …, we find that the elasticity of average labour compensation to firm-level TFP is very low contrary to that of labour …, consistent with real wage rigidity. Second, while the elasticity of average labour compensation to idiosyncratic firm-level TFP …