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  1. Understanding low wage growth in the euro area and European countries
    Beteiligt: Nickel, Christiane (HerausgeberIn); Bobeica, Elena (HerausgeberIn); Koester, Gerrit (HerausgeberIn); Lis, Eliza Magdalena (HerausgeberIn); Porqueddu, Mario (HerausgeberIn)
    Erschienen: [September 2019]
    Verlag:  European Central Bank, Frankfurt am Main, Germany

    Despite notable improvements in the labour market since 2013, wage growth in the euro area was subdued and substantially overpredicted in 2013-17. This paper summarises the findings of an ESCB expert group on the reasons for low wage growth and... mehr

    Zugang:
    Resolving-System (kostenfrei)

    Standort:
    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Potsdamer Straße
    Fernleihe:
    keine Fernleihe

    Standort:
    Staats- und Universitätsbibliothek Bremen
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 535
    Fernleihe:
    keine Fernleihe

     

    Despite notable improvements in the labour market since 2013, wage growth in the euro area was subdued and substantially overpredicted in 2013-17. This paper summarises the findings of an ESCB expert group on the reasons for low wage growth and provides comparable analyses on wage developments in the euro area as a whole and in individual EU countries. The paper finds that cyclical drivers, as captured by a standard Phillips curve, seem to explain much of the weakness in wage growth during this period, but not all of it. Going beyond the drivers included in standard Phillips curves, other factors are also found to have played a role, such as compositional effects, the possible non-linear reaction of wage growth to cyclical improvements, and structural and institutional factors. In order to increase the robustness of wage forecasts, the paper also proposes ready-to-use tools for cross-checking euro area wage growth forecasts based on wage Phillips curves. These are derived based on a comprehensive real-time forecast evaluation exercise

     
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    Quelle: Staatsbibliothek zu Berlin
    Beteiligt: Nickel, Christiane (HerausgeberIn); Bobeica, Elena (HerausgeberIn); Koester, Gerrit (HerausgeberIn); Lis, Eliza Magdalena (HerausgeberIn); Porqueddu, Mario (HerausgeberIn)
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789289938730
    Weitere Identifier:
    hdl: 10419/207618
    Schriftenreihe: Occasional paper series / European Central Bank ; no 232 (September 2019)
    Umfang: 1 Online-Ressource (88 Seiten), Illustrationen
  2. The link between labor cost and price inflation in the Euro area
    Autor*in: Bobeica, Elena; Ciccarelli, Matteo; Vansteenkiste, Isabel
    Erschienen: [2019]
    Verlag:  Banco Central de Chile, Santiago, Chile

    Zugang:
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VS 628
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Documentos de trabajo / Banco Central de Chile ; no 848 (octubre 2019)
    Schlagworte: Arbeitskosten; Inflation; Eurozone
    Umfang: 1 Online-Ressource (circa 67 Seiten), Illustrationen
  3. Understanding low wage growth in the euro area and European countries
    Beteiligt: Nickel, Christiane (HerausgeberIn); Bobeica, Elena (HerausgeberIn); Koester, Gerrit (HerausgeberIn); Lis, Eliza Magdalena (HerausgeberIn); Porqueddu, Mario (HerausgeberIn)
    Erschienen: [September 2019]
    Verlag:  European Central Bank, Frankfurt am Main, Germany

    Despite notable improvements in the labour market since 2013, wage growth in the euro area was subdued and substantially overpredicted in 2013-17. This paper summarises the findings of an ESCB expert group on the reasons for low wage growth and... mehr

    Zugang:
    Resolving-System (kostenfrei)

    Standort:
    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Unter den Linden
    Fernleihe:
    uneingeschränkte Fernleihe, Kopie und Ausleihe

     

    Despite notable improvements in the labour market since 2013, wage growth in the euro area was subdued and substantially overpredicted in 2013-17. This paper summarises the findings of an ESCB expert group on the reasons for low wage growth and provides comparable analyses on wage developments in the euro area as a whole and in individual EU countries. The paper finds that cyclical drivers, as captured by a standard Phillips curve, seem to explain much of the weakness in wage growth during this period, but not all of it. Going beyond the drivers included in standard Phillips curves, other factors are also found to have played a role, such as compositional effects, the possible non-linear reaction of wage growth to cyclical improvements, and structural and institutional factors. In order to increase the robustness of wage forecasts, the paper also proposes ready-to-use tools for cross-checking euro area wage growth forecasts based on wage Phillips curves. These are derived based on a comprehensive real-time forecast evaluation exercise

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Hinweise zum Inhalt
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Quelle: Staatsbibliothek zu Berlin
    Beteiligt: Nickel, Christiane (HerausgeberIn); Bobeica, Elena (HerausgeberIn); Koester, Gerrit (HerausgeberIn); Lis, Eliza Magdalena (HerausgeberIn); Porqueddu, Mario (HerausgeberIn)
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789289938730
    Weitere Identifier:
    hdl: 10419/207618
    Schriftenreihe: Occasional paper series / European Central Bank ; no 232 (September 2019)
    Umfang: 1 Online-Ressource (88 Seiten), Illustrationen
  4. The link between labor cost and price inflation in the euro area
    Autor*in: Bobeica, Elena; Ciccarelli, Matteo; Vansteenkiste, Isabel
    Erschienen: [2019]
    Verlag:  European Central Bank, Frankfurt am Main, Germany

    This paper documents, for the first time in a systematic manner, the link between labor cost and price inflation in the euro area. Using country and sector quarterly data over the period 1985Q1-2018Q1 we find a strong link between labor cost and... mehr

    Zugang:
    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 534
    Fernleihe:
    keine Fernleihe

     

    This paper documents, for the first time in a systematic manner, the link between labor cost and price inflation in the euro area. Using country and sector quarterly data over the period 1985Q1-2018Q1 we find a strong link between labor cost and price inflation in the four major economies of the euro area and across the three main sectors. The dynamic interaction between prices and wages is time-varying and depends on the state of the economy and on the shocks hitting the economy. Our results show that it is more likely that labor costs are passed on to price inflation with demand shocks than with supply shocks. However, the pass-through is systematically lower in periods of low inflation as compared to periods of high inflation. These results confirm that, under circumstances of predominantly demand shocks, labor cost increases will be passed on to prices. Coming from a period of low inflation, however, this pass-through could be moderate at least until inflation stably reaches a sustained path.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Hinweise zum Inhalt
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789289934978
    Weitere Identifier:
    hdl: 10419/208269
    Schriftenreihe: Working paper series / European Central Bank ; no 2235 (February 2019)
    Umfang: 1 Online-Ressource (circa 66 Seiten), Illustrationen