We study differences in the adjustment of aggregate real wages in the manufacturing sector over the business cycle across OECD countries, combining results from different data and dynamic methods. Summary measures of cyclicality show genuine cross-country heterogeneity even after controlling for...

Workers' wages are not set in a spot market. Instead, the wages of most workers -- at least those who do not switch jobs -- typically change only annually and are mediated by a complex set of institutions and factors such as contracts, unions, standards of fairness, minimum wage policy,...

The group of contributors in this book come from academia and international organizations in Europe and the USA. They focus on trade unions, which affect real-wage flexibility and the provision of training to workers. They also concentrate on employment protection legislation, which discourages...

Firms have multiple options at the time of adjusting their wage bills. However, previous literature has mainly focused on base wages. This paper broadens the analysis beyond downward rigidity in base wages by investigating the use of other margins of labor cost adjustment at the firm level....

Tras decadas de estancamiento, la poblacion de clase media en America Latina y el Caribe ha aumentado en un 50%-de aproximadamente 100 millones de personas en 2003 a 150 millones (o un 30% de la poblacion del continente) en 2009. Durante este periodo, el porcentaje de la poblacion pobre...

El emprendimiento es un determinante fundamental del crecimiento y la creacion de empleo. Pese a que los emprendedores abundan en America Latina y el Caribe, las empresas de la region son mas pequenas y menos propensas a crecer e innovar que las de otras regiones. El crecimiento de la...

This Paper presents a two-stage bargaining framework which reproduces the key features of the Italian bargaining system, where wage negotiations occur first at the industry and then at the firm level. The framework we propose takes into account the presence of different degrees of union...