European firm adjustment during times of economic crisis
"This paper exploits a unique cross-country, firm-level survey to study the responses of European firms to the sharp demand and credit contraction triggered by the global Great Recession of 2009. The analysis reveals that cost reduction—particularly labour cost reduction through the adjustment...
| Main Authors: | , , , |
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| Institution: | ETUI-European Trade Union Institute |
| Format: | TEXT |
| Language: | English |
| Published: |
Frankfurt am Main
2015
ECB |
| Subjects: | |
| Online Access: | https://www.labourline.org/KENTIKA-19113548124919317209-european-firm-adjustment-durin.htm |
| _version_ | 1771659899085783041 |
|---|---|
| author | Fabiani, Silvia Lamo, Ana Messina, Julián Rõõm, Tairi |
| author_facet | Fabiani, Silvia Lamo, Ana Messina, Julián Rõõm, Tairi |
| collection | Library items |
| description | "This paper exploits a unique cross-country, firm-level survey to study the responses of European firms to the sharp demand and credit contraction triggered by the global Great Recession of 2009. The analysis reveals that cost reduction—particularly labour cost reduction through the adjustment of quantities rather than prices—was the prevailing strategy that firms had adopted by summer 2009. Remarkably, not even during the worst postwar recession did employers cut base wages to reduce costs. Different combinations of adjustment strategies are apparent, and the particular choices of labour costs adjustments depend substantially on countries’ institutional settings." |
| format | TEXT |
| geographic | EU countries |
| id | 19113548124919317209_fa928a6d04dd400db10a4a2a97d0e1af |
| institution | ETUI-European Trade Union Institute |
| is_hierarchy_id | 19113548124919317209_fa928a6d04dd400db10a4a2a97d0e1af |
| is_hierarchy_title | European firm adjustment during times of economic crisis |
| language | English |
| physical | 40 p. Digital |
| publishDate | 2015 |
| publisher | Frankfurt am Main ECB |
| spellingShingle | Fabiani, Silvia Lamo, Ana Messina, Julián Rõõm, Tairi business strategy economic recession enterprise level labour cost wage cut European firm adjustment during times of economic crisis |
| thumbnail | https://www.labourline.org/Image_prev.jpg?Archive=108250292643 |
| title | European firm adjustment during times of economic crisis |
| topic | business strategy economic recession enterprise level labour cost wage cut |
| url | https://www.labourline.org/KENTIKA-19113548124919317209-european-firm-adjustment-durin.htm |