Pay cuts in Luxembourg rare
Wages in Luxembourg are subject to substantial downward wage rigidity, both in nominal and real terms, new research from the European Central Bank posits.
The research shows that less than 1% of nominal wages are cut both from month to month and from year to year. The analysis also shows that only a small amount of wages are cut in real terms.
The research looks at the degree of wage flexibility in Luxembourg using an administrative data set on individual base wages covering the entire economy
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