Changes in the Czech Wage Structure: Does Immigration Matter?
In: ECB Working Paper No. 1242
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In: ECB Working Paper No. 1242
SSRN
In: National Institute economic review: journal of the National Institute of Economic and Social Research, Band 204, S. 126-138
ISSN: 1741-3036
Membership in the monetary union imposes higher demands on factor market flexibility, since neither the exchange rate nor monetary policies can be used to deal with country-specific shocks. In this paper we assess the ability of the twelve new EU member states (NMS-12) to dampen the impact of shocks by means of macroeconomic wage flexibility. Following the structural VAR approach elaborated in Moore and Pentecost (2006), real wage flexibility is measured by the responsiveness of real wages to real (permanent) and nominal (temporary) shocks. The analysis of Moore and Pentecost (2006) is extended in three ways: by employing a new Eurostat labour cost data set covering 1996Q1 to 2007Q3, by using a large sample of 24 EU member countries, and by assessing the sensitivity of the results to the sample length. We find evidence of heterogeneous real wage adjustment across the new as well as the mature EU economies. Overall, the degree of real wage flexibility in the NMS-12 lies within the bounds of the corresponding values for the Euro Area 'core' and 'peripheral' member countries.
In: Eastern European economics: EEE, Band 45, Heft 6, S. 29-45
ISSN: 1557-9298
In: Eastern European economics, Band 45, Heft 6, S. 29-45
ISSN: 0012-8775
World Affairs Online
In: IMF Working Paper No. 19/10
SSRN
Working paper
In: Ageing international, Band 43, Heft 4, S. 391-414
ISSN: 1936-606X
In: Journal of policy modeling: JPMOD ; a social science forum of world issues, Band 36, Heft 4, S. 700-716
ISSN: 0161-8938
In: Journal of policy modeling: JPMOD ; a social science forum of world issues, Band 36, Heft 4, S. 700-716
ISSN: 0161-8938
In: IMF Working Paper No. 2023/150
SSRN
In: IMF Working Paper No. 2022/052
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