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dc.contributor.authorBehr, Andreasen_US
dc.contributor.authorPötter, Ulrichen_US
dc.date.accessioned2011-11-03en_US
dc.date.accessioned2011-11-14T17:08:37Z-
dc.date.available2011-11-14T17:08:37Z-
dc.date.issued2005en_US
dc.identifier.urihttp://hdl.handle.net/10419/51280-
dc.description.abstractWe suggest a new parametric approach to estimate the extent of downward nominal wage rigidity in ten European countries between 1994 and 2001. The data base used throughout is the User Data Base (UDB) of the European Community Household Panel (ECHP). The proposed approach is based on the very flexible generalized hyperbolic distribution which allows to model wage change distributions characterized by thick tales, skewness and leptokurtosis. Significant downward nominal wage rigidity is found in all countries under analysis, but the extent varies considerably across countries. Yearly estimates reveal increasing rigidity in Italy, Greece and Portugal, while rigidity is declining in Denmark and Belgium. The results imply that the costs of price stability differ substantially across Europe.en_US
dc.language.isoengen_US
dc.publisherCentrum für angewandte Wirtschaftsforschung der Univ. Münster Münsteren_US
dc.relation.ispartofseriesBeiträge zur angewandten Wirtschaftsforschung 14en_US
dc.subject.jelE24en_US
dc.subject.jelJ30en_US
dc.subject.jelC51en_US
dc.subject.ddc330en_US
dc.titleDownward wage rigidity in Europe: A new flexible parametric approach and empirical resultsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn671430211en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:cawmbg:14-
Appears in Collections:Beiträge zur angewandten Wirtschaftsforschung, CAWM, Universität Münster

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