Wage-Price Setting in New EU Member States / / Manuela Goretti

• Autore: Goretti Manuela
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2008
• Descrizione fisica: 1 online resource (26 p.)
• Disciplina: 331.2947
• Soggetto topico: Wages - Europe, Eastern - Econometric models; Prices - Europe, Eastern - Econometric models; Labor; Production and Operations Management; Wages, Compensation, and Labor Costs: General; Demand and Supply of Labor: General; Human Capital; Skills; Occupational Choice; Labor Productivity; Labour; income economics; Macroeconomics; Real wages; Labor markets; Wages; Labor productivity; Labor costs; Labor market
• Soggetto geografico: Romania
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: Contents; I. Background; II. Wage- and Price-Setting Relations; III. Additional Considerations; Figures; 1. NMS: Relationship Between GDP and Private Consumption Deflator, 2000-07; IV. Stylized Facts on NMS; 2. NMS: Real Wages and Labor Productivity, 2001-07; 3. NMS: Nominal Wages and Labor Productivity, 2001-07; 4. NMS: Labor Force Developments, 2001-07; Tables; 1. NMS: Index of Competition Policy, 2001-07; 5. NMS: Unit Labor Costs and Consumer Price Inflation, 2001-07; V. Empirical Wage- and Price-Setting Equations; VI. Econometric Results; 2. EU-27: Long-Run Wage Equation Estimation ; 3. EU-27: Wage Error Correction Model Estimation4. EU-27: Long-Run Price Equation Estimation; 5. EU-27: Price Error Correction Model Estimation; VII. Wage-Setting Variation Across NMS: Public Sector and Institutional Characteristics; 6. How Far Are Real Wages in NMS away from Equilibrium?; 7. NMS: Nominal Wage and Employment Growth in the Public Sector; 8. NMS: Excess Demand of Skilled Workers, 2004-06; 9. NMS: Union Density and Collective Bargaining; 6. NMS: Labor Flexibility, 2008; 10. NMS: Selected Labor Market Indicators, 2004-06; VIII. Conclusions; References
• Sommario/riassunto: 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.
• Titolo autorizzato: Wage-Price Setting in New EU Member States
• ISBN: 1-4623-2148-8; 1-4527-5714-3; 1-4518-7101-5; 1-282-84194-7; 9786612841941
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910788343503321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2008/243