Quicksearch
Table of contents alert
Do you want to receive an email alert about new issue?



   
Indexing
CEEOL DigLib DOAJ EBSCO EconBiz EconLit RePEc Scopus Socolar JournalGuide
Statistics
Total downloads:670988
Total abstract views:940015

Volume 2, Issue 2

top

Aggregate Wage Flexibility in New EU Member States

Babecký, Jan

Year: 2008   Volume: 2   Issue: 2   Pages: 123-145

Abstract: A fixed exchange rate regime eliminates one degree of freedom in absorbing macroeconomic shocks. Therefore, there is a call for higher labor market flexibility in countries which are members of the monetary union or those which intend to join the monetary union. Focusing on the cross-country analysis of labor markets in the enlarged European Union, this paper aims to assess empirically the role of aggregate wages as a correction mechanism for dealing with economic disturbances. We apply classical time series/panel, state-space and cointegration techniques to determine the extent to which aggregate wages can accommodate shocks in the economy.

JEL classification: E24, E52, C22, C33, P20

Keywords: ERM-II, euro adoption, labor market, wage flexibility

RePEc: http://ideas.repec.org/a/fau/aucocz/au2008_123.html

pdf [PDF] print Print   Recommend to others Recommend to others
bottom