Titelaufnahme

Titel
Short-term and long-term determinants of moderate wage growth in the EU / Áron Kiss (European Commission, DG EMPL), Kristine Van Herck (European Commission, DG EMPL) ; IZA, Institute of Labor Economics
VerfasserKiss, Áron ; Van Herck, Kristine
KörperschaftForschungsinstitut zur Zukunft der Arbeit
ErschienenBonn, Germany : Institute of Labor Economics, February 2019
Ausgabe
Elektronische Ressource
Umfang1 Online-Ressource (37 Seiten) : Diagramme
SeriePolicy paper ; no. 144
URNurn:nbn:de:hbz:5:2-184906 
Zugriffsbeschränkung
 Das Dokument ist öffentlich zugänglich im Rahmen des deutschen Urheberrechts.
Volltexte
Short-term and long-term determinants of moderate wage growth in the EU [1.76 mb]
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Zusammenfassung

This paper analyses the factors explaining moderate wage growth in the EU in the post-crisis period. It investigates whether the historical relationship between wages and unemployment has weakened and whether composition effects moderated wage growth. The results suggest a negative answer to both questions. Wages in the EU have not stopped reacting to unemployment developments after the 2008 crisis. Wage growth was moderate because of low inflation, low trend productivity growth, and high unemployment. There are only a few Member States with a significant 'shortfall' in wage growth, including both low and high-unemployment countries. Migration, ageing and collective bargaining institutions appear to have mostly transitory effects on wage growth. During the last decade, changes in the composition of the workforce had a small but positive impact on wage growth in most of the EU, especially due to increasing average age and education level. In some Member States such as Germany, Italy, Luxembourg and Portugal, composition effects were a main driver of wage growth.