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003			ES-MaBCM
005			20250312105526.0
008			250312s2024 sp |||||s|||| 00| 0 eng d
040			_cES-MaBCM
100	1		_aAdamopoulou, Effrosyni _9130386
245	1	0	_aStaggered contracts and unemployment during recessions _cEffrosyni Adamopoulou, Luis Díez-Catalán, Ernesto Villanueva, (autores) _h[Recurso electrónico]
260			_aMadrid _b : Banco de España _c , 2024
300			_a74 p.
490	0		_aDocumentos de Trabajo _v2412
520			_aThis paper studies the impact of downward wage rigidity on wage and employment dynamics after the outbreak of major recessions in Spain. Downward wage rigidity stems from collective agreements, which set province-sector-skill-specific minimum wage floors for all workers. By exploiting variation in the renewal of collective agreements, we find that those signed before the onset of recessions settle on higher nominal negotiated wage growth than agreements signed afterwards. Leveraging social security data and the distribution of the worker-level bite of minimum wage floors, we document that the negotiated wage rigidity translated into higher wage growth mainly among workers with near-floor wages. Consequently, these workers experienced a substantial and highly persistent increase in the probability of non-employment, but only if they were covered by long-duration collective agreements. Our findings highlight the interplay between rigidity at different parts of the wage distribution and labor market institutions and identify conditions under which collective contract staggering and the inability to renegotiate may amplify aggregate shocks.
650		7	_aPolítica salarial
650		7	_aConvenio colectivo
650		7	_aEmpleo
650		7	_aMercado laboral
700	1		_aDíez-Catalán, Luis _9130387
700	1		_aVillanueva, Ernesto _948544
856			_uhttps://mpr.koha.es/cgi-bin/koha/opac-retrieve-file.pl?id=7751f8d10187de03b8e1d3b53dd51088 _yDESCARGAR DOCUMENTO
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