Wage cyclicality and labour market institutions
Do labor institutions influence how wages respond to the business cycle? Such responsiveness can then shape several economic outcomes, including unemployment. In this paper, we examine the role of two key labor market institutions—collective bargaining and temporary contracts—upon wage cyclicality....
| Autores: | , , |
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| Formato: | artículo |
| Estado: | Versión aceptada para publicación |
| Fecha de publicación: | 2025 |
| País: | España |
| Recursos: | Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya) |
| Repositorio: | Recercat. Dipósit de la Recerca de Catalunya |
| OAI Identifier: | oai:recercat.cat:2445/222927 |
| Acesso em linha: | https://hdl.handle.net/2445/222927 |
| Access Level: | acceso embargado |
| Palavra-chave: | Institucions Política salarial Mercat de treball Institutions Wage policy Labor market |
| Resumo: | Do labor institutions influence how wages respond to the business cycle? Such responsiveness can then shape several economic outcomes, including unemployment. In this paper, we examine the role of two key labor market institutions—collective bargaining and temporary contracts—upon wage cyclicality. Our evidence is drawn from rich, 2002–2020 matched data from Portugal. We find that workers not covered by collective agreements exhibit much higher wage cyclicality, especially new hires, compared to covered workers. In contrast, workers under temporary contracts do not exhibit sizable differences in cyclicality compared to counterparts under permanent (open-ended) contracts. Our findings highlight a novel angle through which labor institutions influence the labor market and the economy |
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