Wages: Reaction to Crisis

DOI: 10.20542/0131-2227-2012-5-51-64

G. Monusova, Institute of World Economy and International Relations, Russian Academy of Sciences (IMEMO RAN), 23, Profsoyuznaya Str., Moscow, 117997, Russian Federation (g.monusova@gmail.com).

Abstract. In the present article, with use of mathematical methods, the wages dynamics in OECD countries and in Russia in 2000–2009 is demonstrated; its connection with GDP changes is examined in the context of other labor market quantitative indices; the influence of labor market institutes on the rates of increase in wages during crisis is considered. The explanation of reasons for cross-country diversity in real wages dynamics is given. It is concluded, that in the recession period the wages in most countries preserved the katabasis rigidity.

Keywords: world crisis, labor market, wages, wages dynamics, dismissions, working time reduction

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For citation:
Monusova G. Wages: Reaction to Crisis. World Eonomy and International Relations, 2012, no. 5, pp. 51-64. https://doi.org/10.20542/0131-2227-2012-5-51-64

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