Price, Wage, and Employment Response to Shocks: Evidence from the WDN Survey

Giuseppe Bertola : This study analyses an extensive firm-level survey, collected in the framework of the Eurosystem’s Wage Dynamics Network program.

Author(s):

Giuseppe Bertola

EDHEC Business School, CEPR

Aurelijus Dabusinskas

Eesti Pank

Marco Hoeberichts

De Nederlandsche Bank

Mario Izquierdo

Banco de España, ECB

Claudia Kwapil

Oesterreichische Nationalbank

Jeremi Montornes

Banque de France

Daniel Radowski

Deutsche Bundesbank

Analysing survey data collected in the framework of the Eurosystem's wage 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 costpush shocks depends in statistically significant and theoretically sensible ways on the intensity of competition in firms' product markets, on collective wage bargaining, and on other structural and institutional features of firms and of their environment.
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Price, Wage, and Employment Response to Shocks: Evidence from the WDN Survey...
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Type: Working paper
Date: le 13/05/2011
Extra information : For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School.
Research Cluster : Finance

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