文章基本信息
- 标题：Price, wage and employment response to shocks: evidence from the WDN Survey
- 本地全文：下载
- 作者：Giuseppe Bertola ; Aurelijus Dabusinskas ; Marco Hoeberichts 等
- 期刊名称：Documentos de Trabajo / Banco de España
- 印刷版ISSN：0213-2710
- 电子版ISSN：1579-8666
- 出版年度：2010
- 卷号：1
- 出版社：Banco de España
- 摘要：
This paper analyses information from survey data collected in the framework of the Eurosystem’s Wage
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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
cost-push shocks depend - in theoretically sensible ways - on the intensity of competition in firms’
product markets, on the importance of collective wage bargaining and on other structural and
institutional features of firms and of their environment. Focusing on the pass-through of cost shocks to
prices, our results suggest that the pass-through is lower in highly competitive firms. Furthermore, a
high degree of employment protection and collective wage agreements tend to make this pass through
stronger.
