Nominal Wage Rigidity in Village Labor Markets
Abstract
This paper develops a new approach to test for downward wage rigidity by examining transitory shocks to labor demand (i.e., rainfall) across 600 Indian districts. Nominal wages rise during positive shocks but do not fall during droughts. In addition, transitory positive shocks generate ratcheting: after they have dissipated, wages do not adjust back down. Ratcheting reduces employment by 9 percent, indicating that rigidities distort employment...
Paper Details
Title
Nominal Wage Rigidity in Village Labor Markets
Published Date
Oct 1, 2019
Journal
Volume
109
Issue
10
Pages
3585 - 3616
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