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The Margins of Labor Cost Adjustment : Survey Evidence From European Firms / Babecky, Jan
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Babecky, Jan
- Series:
- Policy research working papers.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Early retirement.
- Economic shocks.
- Economic Theory & Research.
- Employee.
- Employment.
- Environment.
- Environmental Economics & Policies.
- Finance and Financial Sector Development.
- Firm level.
- Firm survey.
- High wage.
- Labor cost.
- Labor Markets.
- Labor markets.
- Labor Policies.
- Labour.
- Labour cost.
- Labour costs.
- Labour market.
- Labour market institutions.
- Labour markets.
- Macroeconomics and Economic Growth.
- Microfinance.
- Real wages.
- Retirement.
- Social Protections and Labor.
- Wage level.
- Worker.
- Workers.
- Local Subjects:
- Early retirement.
- Economic shocks.
- Economic Theory & Research.
- Employee.
- Employment.
- Environment.
- Environmental Economics & Policies.
- Finance and Financial Sector Development.
- Firm level.
- Firm survey.
- High wage.
- Labor cost.
- Labor Markets.
- Labor markets.
- Labor Policies.
- Labour.
- Labour cost.
- Labour costs.
- Labour market.
- Labour market institutions.
- Labour markets.
- Macroeconomics and Economic Growth.
- Microfinance.
- Real wages.
- Retirement.
- Social Protections and Labor.
- Wage level.
- Worker.
- Workers.
- Physical Description:
- 1 online resource (36 pages)
- Other Title:
- Margins Of Labor Cost Adjustment
- Place of Publication:
- Washington, D.C., The World Bank, 2010
- System Details:
- data file
- Summary:
- Firms have multiple options at the time of adjusting their wage bills. However, previous literature has mainly focused on base wages. This paper broadens the analysis beyond downward rigidity in base wages by investigating the use of other margins of labor cost adjustment at the firm level. Using data from a unique survey, the authors find that firms make frequent use of other, more flexible, components of compensation to adjust the cost of labor. Changes in bonuses and non-pay benefits are some of the potential margins firms use to reduce costs. The paper also shows how the margins of adjustment chosen are affected by firm and worker characteristics.
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