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Price, Wage, and Employment Response to Shocks: Evidence from the WDN Survey

Auteurs :
Giuseppe Bertola
EDHEC Business School, CEPR

Aurelijus Dabusinskas
Eesti Pank

Marco Hoeberichts
De Nederlandsche Bank

Mario Izquierdo
Banco de España, ECB

Claudia Kwapil
Oesterreichische Nationalbank

Jeremi Montornès
Banque de France

Daniel Radowski
Deutsche Bundesbank

This study analyses an extensive firm-level survey, collected in the framework of the Eurosystem’s Wage Dynamics Network program.

EDHEC Working Paper

EDHEC Working Paper

Analysing survey data collected in the framework of the Eurosystem's wage dynamics network (WDN) on patterns of firm-level adjustment to shocks, we document that the relative intensity and the character of price vs. cost and wage vs. employment adjustments in response to costpush shocks depends in statistically significant and theoretically sensible ways on the intensity of competition in firms' product markets, on collective wage bargaining, and on other structural and institutional features of firms and of their environment.
Type :
Working Paper
Dates :
Créé le 13 mai 2011
Complément d'informations :
For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ]

The contents of this paper do not necessarily reflect the opinions of EDHEC Business School.

Finance

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