2025-03-262025-03-2601/17/20182018-05-17https://pyxida.aueb.gr/handle/123456789/7350Received wisdom suggests that “excessive” wages, defined as the part of real wages that do not follow labour productivity developments, are adversely associated with employment. This thesis argues that excessive wages and employment rates are better thought of as responses to the structure of the labour market. We thus investigate the relationship between excessive wages and employment using data for the Greek manufacturing for the period 1992-2007.70p.CC BY: Attribution alone 4.0https://creativecommons.org/licenses/by/4.0/Excessive wagesLabour productivityEmploymentText