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Erscheinungsjahr: 
2024
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 16787
Verlag: 
Institute of Labor Economics (IZA), Bonn
Zusammenfassung: 
Do labour 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 labour 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 if new hires, compared to covered workers. In contrast, workers under fixed-term contracts do not exhibit sizable differences in cyclicality compared to counterparts under open-ended contracts. Our findings highlight a novel angle through which labour institutions influence the labour market and the economy.
Schlagwörter: 
real wages
business cycles
collective bargaining
temporary contracts
matched data
JEL: 
J31
J52
Dokumentart: 
Working Paper

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