Lünnemann, Patrick; Wintr, Ladislav - European Central Bank - 2009
central
banks (NCBs) of the EU countries. The WDN aims at studying in depth the features and sources of wage
and labour cost ….
Due to automatic wage indexation, wages appear to be subject to substantial downward
real wage rigidity. Finally, wage ….
Keywords: wage flexibility, wage rigidity.
JEL Classification: J31
5
ECB
Working Paper Series No 1074
July 2009
Non …