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Employment, wages and prices: How did firms adjust during the economic and financial crisis? Evidence from a survey of Luxembourg firms

Author

Listed:
  • Thomas Y. Mathä
  • Cindy Veiga
  • Ladislav Wintr

Abstract

This report presents new insights on the nature, size and persistence of various shocks (demand, credit, costs etc.) experienced by Luxembourg firms during the initial years of the economic crisis in 2008-09 and subsequently in the period 2010-13, as well as on how firms adjusted to these shocks in terms of employment, wages and prices. It discusses the extent to which institutional changes in the Luxembourg labour market through various public support measures helped alleviate the effects of the economic crisis.

Suggested Citation

  • Thomas Y. Mathä & Cindy Veiga & Ladislav Wintr, 2016. "Employment, wages and prices: How did firms adjust during the economic and financial crisis? Evidence from a survey of Luxembourg firms," BCL working papers 104, Central Bank of Luxembourg.
    • Handle: RePEc:bcl:bclwop:bclwp104
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    File URL: https://www.bcl.lu/en/publications/Working-papers/104/BCLWP104.pdf
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    References listed on IDEAS

    as
    1. Lünnemann, Patrick & Wintr, Ladislav, 2010. "Downward wage rigidity and automatic wage indexation: evidence from monthly micro wage data," Working Paper Series 1269, European Central Bank.
    2. Danielle Venn, 2009. "Legislation, Collective Bargaining and Enforcement: Updating the OECD Employment Protection Indicators," OECD Social, Employment and Migration Working Papers 89, OECD Publishing.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Economic and financial crisis; reaction to shocks; wage and price rigidity; firms; survey; WDN;
    All these keywords.

    JEL classification:

    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis

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