Wage rigidities and business cycle fluctuations: a linked employer-employee analysis

Table 8 Average wage adjustment of the firm, skewness, and share of temporary workers in 2008

	Δ avg. w₂₀₀₉	Δ avg. w ₂₀₀₉	Δ avg. w ₂₀₁₁	Δ avg. w ₂₀₁₁	Δ avg. w ₂₀₁₃	Δ avg. w ₂₀₁₃
	(1)	(2)	(3)	(4)	(5)	(6)
	Low % temp wrks	High % temp wrks	Low % temp wrks	High % temp wrks	Low % temp wrks	High % temp wrks
Skewness_2003-2008	0.112** (0.0434)	0.0380 (0.0255)	0.107** (0.0515)	0.0706 (0.0464)	0.0267 (0.0597)	0.160** (0.0682)
Overtime hour per wrk₂₀₀₈	−0.00910 (0.00906)	−0.00602 (0.00647)	0.00681 (0.0156)	−0.0120 (0.00783)	0.0397** (0.0175)	−0.00297 (0.00903)
Value added per wrk₂₀₀₈	0.000575*** (0.000167)	3.20e−05 (0.000188)	0.000600** (0.000239)	4.38e−05 (0.000253)	0.000789*** (0.000262)	−9.76e−05 (0.000317)
Firms’ size, sector and province dummies, age	Yes	Yes	Yes	Yes	Yes	Yes
Adj. R ²	0.413	0.514	0.267	0.281	0.309	0.309
N	885	888	707	721	620	634

Source: turnover, overtime hours and share of temporary workers are taken from the INVIND survey. Skewness from INPS data on the population of workers belonging to firms in the INVIND sample. Firm’s average wage, size, age, sector and province from INPS data on the population of firms. Value added per worker from CERVED. Turnover₂₀₁₁ and Turnover₂₀₁₃ are cumulative for the years 2009–2011 and 2009–2013. Low share of temporary means that the share of temporary workers in 2008 was below the median. Robust standard errors in parenthesis
*p < 0.1; **p < 0.05; ***p < 0.01