NOMINAL WAGE RIGIDITY IN THE UNITED KINGDOM

NOMINAL WAGE RIGIDITY IN THE UNITED KINGDOM
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英国的名义工资刚性

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发表时间：
2000
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通讯作者：
Jennifer C. Smith
Jennifer C. Smith
中科院分区：
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文献类型：
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作者：
Jennifer C. Smith

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本文利用微观数据研究了英国名义工资向下刚性的程度。大约9%的员工一年到头都在同一份工作，他们的工资没有增长。但在调查僵化的原因时，我们发现，高达十分之九的原因可归因于“对称”原因（如合同和菜单成本）或错误。因此，只有1%的工人的工资可能是向下刚性的。这表明，不对称的向下刚性不足以产生严重的宏观经济后果。劳动力市场几乎没有证据支持正通胀目标。
This paper studies the degree of downward rigidity in nominal wages in the United Kingdom using micro-data. Around 9% of employees who remain in the same job from one year to the next have zero pay growth. But on investigating the causes of rigidity we find that up to nine-tenths can be attributed to "symmetric" causes (such as contracts and menu costs) or to error. Thus only 1% of workers have pay that may be downwardly rigid. This suggests asymmetric, downward rigidity is not large enough to have serious macroeconomic consequences. The labour market provides almost no evidence to support a positive inflation target.