Description
| Summary: | 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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| Item Description: | At head of title: European Department.
"October 2008." |
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| Physical Description: | 1 online resource (24 pages) : illustrations |
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| Format: | Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |
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| Bibliography: | Includes bibliographical references (page 24). |
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| ISBN: | 1451915543
9781451915549
9781451871012
1451871015
1462321488
9781462321483
1452757143
9781452757148
1282841947
9781282841949
9786612841941
661284194X |
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| Language: | English. |
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| Reproduction Note: | Electronic reproduction. |
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| Source of Description, Etc. Note: | Print version record. |
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| Action Note: | digitized |
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