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Wage Rigidity, Collective Bargaining and the Minimum Wage: Evidence from French Agreement Data

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Date
2013
Dewey
Macroéconomie
Sujet
Wage stickiness; wage bargaining; minimum wage; downward nominal wage rigidity
JEL code
J.J3.J31; J.J5.J50; E.E3.E30
Journal issue
The Review of Economics and Statistics
Volume
95
Number
4
Publication date
10-2013
Article pages
1337-1351
Publisher
MIT Press Journals
DOI
http://dx.doi.org/10.1162/REST_a_00329
URI
https://basepub.dauphine.fr/handle/123456789/11158
Collections
  • LEDa : Publications
Metadata
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Author
Avouyi-Dovi, Sanvi
status unknown
Fougère, Denis
2579 Centre de Recherche en Économie et Statistique [CREST]
143593 Banque de France
Gautier, Erwan
95496 Laboratoire d'économie et de management de Nantes Atlantique [LEMNA]
Type
Article accepté pour publication ou publié
Item number of pages
32
Abstract (EN)
Using several unique data sets on wage agreements at both industry and firm levels in France, we document stylized facts on wage stickiness and the impact of wage-setting institutions on wage rigidity. First, the average duration of wages is a little less than one year and around 10 percent of wages are modified each month by a wage agreement. Data patterns are consistent with predictions of a mixture of Calvo and Taylor models. The frequency of wage change agreements is rather staggered over the year but the frequency of effective wage changes is seasonal. The national minimum wage has a significant impact on the probability of a wage agreement and on the seasonality of wage changes. Negotiated wage increases are correlated with inflation, the national minimum wage increases and the firm profitability.

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