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Wage-price setting in new EU member states /
This paper analyzes wage- and price-setting relations in new EU member countries. Panel estimates indicate a strong and significant relationship between real wages and labor productivity, as well as evidence of wage pass-through to inflation. Terms of trade shocks do not feed through to real wages....
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
©2008.
©2008 |
| Colección: | IMF working paper ;
WP/08/243. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | This paper analyzes wage- and price-setting relations in new EU member countries. Panel estimates indicate a strong and significant relationship between real wages and labor productivity, as well as evidence of wage pass-through to inflation. Terms of trade shocks do not feed through to real wages. Country-specific wage developments, beyond differences in labor productivity growth, are mostly explained by real wage catch-up from different initial levels and different labor market conditions. Qualitative evidence also suggests that public sector wage demonstration effects and institutional factors may play a role in wage determination. |
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| Notas: | At head of title: European Department. "October 2008." |
| Descripción Física: | 1 online resource (24 pages) : illustrations |
| Bibliografía: | Includes bibliographical references (page 24). |
| ISBN: | 1451915543 9781451915549 9781451871012 1451871015 1462321488 9781462321483 1452757143 9781452757148 1282841947 9781282841949 9786612841941 661284194X |