01740cas a2200253 a 4500 AALejournalIMF002120 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451858006 1018-5941 BD-DhAAL BD-DhAAL Decressin, Jorg. On Sand and the Role of Grease in Labor Markets : How Does Germany Compare? / Jorg Decressin, Anja Decressin. Washington, D.C. : International Monetary Fund, 2002. 1 online resource (37 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper investigates wage setting in (west) Germany using the German Socioeconomic Panel dataset on individuals and compares the findings with those available for the United Kingdom and the United States. The fraction of job stayers in (west) Germany who suffer unchanged wages or wage cuts compares with that in similar data for the Anglo-American countries, even after various adjustments for potential reporting errors. While nominal wages of job stayers are rigid downward, real wages are not. Nevertheless, the macroeconomic effects of the nominal rigidity are limited and cannot be weakened substantially by raising inflation. Mode of access: Internet Decressin, Anja. IMF Working Papers; Working Paper ; No. 2002/164 Full text available on IMF http://elibrary.imf.org/view/journals/001/2002/164/001.2002.issue-164-en.xml IMF e-Library