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How Prevalent Is Downward Rigidity in Nominal Wages? International Evidence from Payroll Records and Pay Slips
Journal of Economic Perspectives ( IF 9.944 ) Pub Date : 2019-08-01 , DOI: 10.1257/jep.33.3.185
Michael W. L. Elsby 1 , Gary Solon 2
Affiliation  

For more than 80 years, many macroeconomic analyses have been premised on the assumption that workers' nominal wage rates cannot be cut. Contrary evidence from household surveys reasonably has been discounted on the grounds that the measurement of frequent wage cuts might be an artifact of reporting error. This article summarizes a more recent wave of studies based on more accurate wage data from payroll records and pay slips. By and large, these studies indicate that, except in extreme circumstances (when nominal wage cuts are either legally prohibited or rendered beside the point by very high inflation), nominal wage cuts from one year to the next appear quite common, typically affecting 15–25 percent of job stayers in periods of low inflation.

中文翻译:

名义工资的下降刚性有多普遍?工资记录和工资单的国际证据

80多年来,许多宏观经济分析一直以不能削减工人的名义工资为前提。来自家庭调查的相反证据被合理地轻描淡写,理由是频繁减薪的措施可能是报告错误的产物。本文基于工资记录和工资单中更准确的工资数据,总结了最近的一波研究。总体而言,这些研究表明,除了在极端情况下(法律上禁止名义降薪或因极高的通货膨胀而在名义上进行降薪)以外,从一年到下一年的名义降薪似乎很普遍,通常影响15 –在低通胀时期,有25%的在职人员。
更新日期:2019-08-01
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