Monitoring Wage Developments in EMU |
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Authors: | Karl Pichelmann |
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Institution: | (1) European Commission, Office BU1-5/184, 200 rue de la Loi, 1049 Brussels, Belgium |
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Abstract: | The purpose of this paper is to provide a brief review of aggregatewage developments in the EU member states. We start with a short discussion of wage bargaining mechanisms, their impact on labour market outcomes, and take a look into the crystal ball to learn about possible future developments. Section III analyses nominal wage developments focussing, in particular, on the evolution of cross-country patterns as anindicator for the synchronisation of wage developments. Section IV discusses real wage growth in relation to productivity developments using a somewhat refined 'real wage gap indicator';and Section V simply concludes. |
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Keywords: | Wage developments bargaining |
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