摘要：A number of recent studies have documented extensive downward nominal wage
rigidity (dnwr) for job stayers in many oecd countries. However, dnwr for individual
workers may induce downward rigidity or “a floor” for the aggregate wage
growth at positive or negative levels. Aggregate wage growth may be below zero
because of compositional effects, for example that old, high-wage workers are replaced
by young low-wage workers. dnwr may also lead to a positive growth in
aggregate wages because of changes in relative wages. We explore industry data
for 19 oecd countries, over the period 1971–2006. We find evidence for floors on
nominal wage growth at 6 percent and lower in the 1970s and 1980s, at one percent
in the 1990s, and at 0.5 percent in the 2000s. Furthermore, we find that dnwr is
stronger in country-years with strict employment protection legislation, high union
density, centralised wage setting and high inflation.
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