How flexible are real wages in EU countries? A panel investigation

Autor:	Frigyes Ferdinand Heinz, Desislava Rusinova, Vilen Lipatov
Rok vydání:	2015
Předmět:	Inflation Eastern european Flexibility (engineering) Economics and Econometrics Labour economics media_common.quotation_subject Unemployment Economics Wage Real wages Productivity Phillips curve media_common
Zdroj:	Journal of Macroeconomics. 43:140-154
ISSN:	0164-0704
Popis:	We estimate the degree of real wage flexibility in 19 EU countries in a wage Phillips curve panel framework. We find evidence for a reaction of wage growth to unemployment and productivity growth. The degree of real wage flexibility tends to be larger in the central and eastern European (CEE) countries than in the euro area; weaker in downturns than during upswings. There exists an inflation threshold, below which real wage flexibility is low. We also find that a part of the heterogeneity in real wage flexibility and unemployment may be related to differences in the wage bargaining institutions.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::df4ca2bf10d779916f2ca0c9f0d83c75 https://doi.org/10.1016/j.jmacro.2014.10.002 Zobrazit plný text záznamu Full Text from ScienceDirect