Using an original micro-dataset from France, we investigate nominal wage stickiness. Nominal wage changes are found to occur at a quarterly frequency of around 38 percent over our sample period, and to be to a large extent staggered across establishments, and very synchronized within establishments. We carry out an econometric analysis of wage changes based on a two-threshold sample selection model. Our results are that the timing of wage adjustments is time-dependent as opposed to state-dependent, there is evidence of predetermination in wage changes, and both backward and forward-looking behavior is relevant in wage setting. (JEL E24, E52, J31)

Analysing survey data collected in the framework of the Eurosystem's Wage Dynamics Network (WDN) on patterns of firm-level adjustment to shocks, we document that the relative intensity and the character of price vs. cost and wage vs. employment adjustments in response to cost-push shocks depends in statistically significant and theoretically sensible ways on the intensity of competition in firms' product markets, on collective wage bargaining, and on other structural and institutional features of firms and of their environment.

Analysing survey data collected in the framework of the Eurosystem's Wage Dynamics Network (WDN) on patterns of firm-level adjustment to shocks, we document that the relative intensity and the character of price vs. cost and wage vs. employment adjustments in response to cost-push shocks depends in statistically significant and theoretically sensible ways on the intensity of competition in firms' product markets, on collective wage bargaining, and on other structural and institutional features of firms and of their environment.

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