From: European firm adjustment during times of economic crisis
Probability (% and standard errors) | Difference from baseline (% points and standard errors) | |
---|---|---|
Baseline | 13.7 | |
(5.6) | ||
Manufacturing | 8.0 | −5.8 |
(3.9) | (2.6) | |
Trade | 8.3 | −5.4 |
(4.1) | (2.8) | |
Large firm | 12.9 | −0.9 |
(5.1) | (3.4) | |
Strong demand + weak credit shock | 16.7 | 3.0 |
(6.4) | (2.2) | |
Strong demand + strong credit shock | 13.4 | −0.4 |
(5.4) | (2.2) | |
Time-dependent wages | 14.3 | 0.5 |
(5.8) | (2.1) | |
Frequent wage adjustment | 8.6 | −5.1 |
(4.4) | (2.6) | |
Strong competitive pressures | 14.4 | 0.7 |
(5.7) | (1.9) | |
Firm-level collective agreement | 12.8 | −0.9 |
(5.5) | (2.2) | |
White-collar workers: high (%) | 19.3 | 5.6 |
(7.4) | (3.3) | |
High-skilled workers: high (%) | 17.2 | 3.4 |
(6.7) | (3.0) | |
Temporary workers: high (%) | 11.2 | −2.6 |
(4.9) | (2.1) | |
Labour cost share: high (%) | 14.0 | 0.2 |
(5.6) | (2.2) | |
Flexible pay component: high (%) | 21.3 | 7.5 |
(7.2) | (3.2) |