Downward Nominal Wage Rigidity in the Estonian Private Sector
Date
2011-05-23
Authors
Järve, Janno
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Abstract
Tsüklilised arengud kaubaturgudel eeldavad paindlikkust ka tööturul. Nominaalpalga allapoole jäikus tähendab seda, et tööturu osapooled püüavad hoiduda nominaalpalga langetamisest. Kui nominaalpalga langetamisele on tugev vastuseis, siis võib nullilähedase inflatsiooni tingimustes osa majanduse normaalseks toimumiseks vajalikke reaalpalga langetamisi toimumata jääda mis omakorda toob kaasa kõrgema tööpuuduse.
Käesoleva töö eesmärgiks oli uurida nominaalpalga allapoole jäikust Eesti erasektori ettevõtetes. Selleks kasutati meetodeid, mis tuletavad hinnangud nominaalpalga jäikuse ulatuse kohta palga tihedusfunktsiooni kuju muutustest (nt Kahni test). Nominaalpalga allapoole jäikust analüüsiti nii Eesti kohta tervikuna kui erinevate tööandja ja töötajate gruppide lõikes. Eraldi tähelepanu pöörati sellele, kuidas muutub nominaalpalga allapoole jäikus ajas ning millist mõju avaldas sellele hiljutine majanduskriis.
Tulemused näitasid, et teiste Euroopa riikidega võrreldes on Eesti nominaalpalgad allapoole paindlikud. Nominaalpalkade allapoole jäikuses on olulisi erinevusi nii töötajate kui tööandjate gruppide lõikes. Nominaalpalgad on jäigemad teenindussektoris ning samuti ettevõtetes, mille töötajate arv on väike. Töötajate gruppidest on jäigemad meeste ja madalapalgaliste töötajate nominaalpalgad. Nominaalpalk on jäigem ka parimas tööeas olevatel töötajatel ning töötajatel, kes on jõudnud pensioniikka kuid jätkavad endiselt töötamist. Tulemused näitavad seda, et nominaalpalkade jäikus Eestis on aja muutuv ning majanduskriis tõi kaasa selle vähenemise.
The cyclical developments in product market bring about the need for flexibility in the labour market. Downward nominal wage rigidity (DNWR) refers to the tendency to avoid nominal wage cuts. If workers resist nominal wage cuts then in near-zero inflation environments a part of real wage cuts that is needed for normal functioning of the economy will not be enacted and this would bring about increase in unemployment. The aim of this thesis was to investigate the existence and extent of DNWR in Estonian private sector companies. The existence and size of DNWR was analysed mainly using methods exploiting changes in shape and location of wage distributions. Different employer and employee groups were investigated. Special attention was on the impact of recent economic crises on DNWR in Estonia as well as on dynamic properties of wage rigidity in general. The results showed that in international comparison Estonian wages are nominally downwardly relatively flexible. There are, however, differences between employer and employee groups. Wages are more rigid in services sectors as well as in smaller companies. Concerning employee groups, men and low wage earners’ have higher DNWR. The relationship between DNWR and age groups is slightly more complex showing higher DNWR for workers in their prime working age, as well as for more than 64 year olds. As for dynamic properties of DNWR the analysis shows, that DNWR changes over time. Economic crises brought about significant decline in DNWR for almost all worker groups.
The cyclical developments in product market bring about the need for flexibility in the labour market. Downward nominal wage rigidity (DNWR) refers to the tendency to avoid nominal wage cuts. If workers resist nominal wage cuts then in near-zero inflation environments a part of real wage cuts that is needed for normal functioning of the economy will not be enacted and this would bring about increase in unemployment. The aim of this thesis was to investigate the existence and extent of DNWR in Estonian private sector companies. The existence and size of DNWR was analysed mainly using methods exploiting changes in shape and location of wage distributions. Different employer and employee groups were investigated. Special attention was on the impact of recent economic crises on DNWR in Estonia as well as on dynamic properties of wage rigidity in general. The results showed that in international comparison Estonian wages are nominally downwardly relatively flexible. There are, however, differences between employer and employee groups. Wages are more rigid in services sectors as well as in smaller companies. Concerning employee groups, men and low wage earners’ have higher DNWR. The relationship between DNWR and age groups is slightly more complex showing higher DNWR for workers in their prime working age, as well as for more than 64 year olds. As for dynamic properties of DNWR the analysis shows, that DNWR changes over time. Economic crises brought about significant decline in DNWR for almost all worker groups.
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Keywords
dissertatsioonid, palk, erasektor, eraettevõtted, võrdlusmeetodid, Eesti, wages, private sector, private enterprises, comparative methods, Estonia