Aggregate Wage Flexibility in New EU Member States

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Title:Aggregate Wage Flexibility in New EU Member States
Creators:
Babecký, Jan
Journal or Publication Title:
AUCO Czech Economic Review, 2, 2, pp. 123-146
Uncontrolled Keywords:ERM-II, euro adoption, labor market, wage flexibility

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.

Official URL: http://www.ceeol.com/aspx/issuedetails.aspx?issueid=1D377F20-5F6B-4F60-8FA5-B14DB8CA0209&articleid=7E1DC009-7777-416B-8145-9BEA4417293F

Title:Aggregate Wage Flexibility in New EU Member States
Creators:
Babecký, Jan
Uncontrolled Keywords:ERM-II, euro adoption, labor market, wage flexibility
Subjects:H Social Sciences > HB Economic Theory
H Social Sciences > HG Finance
H Social Sciences > HF Commerce
Divisions:Section of external journals > AUCO Czech Economic Review
Journal or Publication Title:AUCO Czech Economic Review
Volume:2
Number:2
Page Range:pp. 123-146
ISSN:1802-4696
Publisher:Charles University
Related URLs:
URLURL Type
http://auco.cuni.czPublisher
http://avi.lib.cas.cz/node/183Publisher
ID Code:4319
Item Type:Article
Deposited On:01 Jun 2009 18:32
Last Modified:01 Jun 2009 16:32

Citation

Babecký, Jan (2008) Aggregate Wage Flexibility in New EU Member States. AUCO Czech Economic Review, 2 (2). pp. 123-146. ISSN 1802-4696

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