Sticky Wages: Evidence from Quarterly Microeconomic Data
利用法国微观数据集，研究了名义工资粘性，发现季度工资调整频率约38%，调整时间具有时间依赖性而非状态依赖性，且存在前瞻和后顾行为。
Using an original micro-dataset from France, we investigate nominal wage stickiness. Nominal wage changes are found to occur at a quarterly frequency of around 38 percent over our sample period, and to be to a large extent staggered across establishments, and very synchronized within establishments. We carry out an econometric analysis of wage changes based on a two-threshold sample selection model. Our results are that the timing of wage adjustments is time-dependent as opposed to state-dependent, there is evidence of predetermination in wage changes, and both backward and forward-looking behavior is relevant in wage setting.