Employment persistence and wage setting in the Greek labour market

Natasha Miaouli (Athens University of Economics and Business, Athens, Greece)

Journal of Economic Studies

ISSN: 0144-3585

Publication date: 1 April 1998


This paper studies the behaviour of employment and real wages in Greek manufacturing 1954‐1993. Since employment dynamics are driven by trade union membership, wage aspirations and adjustment costs, the paper tries to identify the relative importance of these propagation mechanisms for the stylized fact of full (un)employment persistence. The empirical results suggest that adjustment costs in firms’ decision making, due to institutional and technological constraints, are the main reason for the slow response of (un)employment to changes in the economic environment.



Miaouli, N. (1998), "Employment persistence and wage setting in the Greek labour market", Journal of Economic Studies, Vol. 25 No. 2, pp. 98-111. https://doi.org/10.1108/01443589810202102

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Copyright © 1998, MCB UP Limited

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