European Central Bank 7 April 2011, ecbwp1321 (Macroeconomic implications of downward wage rigidities)

WORKING PAPER SERIESNO 1321 / APRIL 2011WORKING PAPER SERIESNO 1321 / APRIL 2011MACROECONOMIC IMPLICATIONS OF DOWNWARD WAGE RIGIDITIES [ 1]by Mirko Abbritti [2] and Stephan Fahr [3]NOTE: This Working Paper should not be reported as representingthe views of the European Central Bank (ECB).The views expressed are those of the authorsand do not necessarily reflect those of the ECB.