Co-movements between public and private wages in the EU: what factors and with what policy implications?

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• 作者：Benedicta Marzinotto ; Alessandro Turrini
• 关键词：General government compensations ; Wage setting ; Cost competitiveness ; Fiscal consolidation ; Co ; integration
• 刊名：IZA Journal of European Labor Studies
• 出版年：2017
• 出版时间：December 2017
• 年：2017
• 卷：6
• 期：1
• 全文大小：459KB
• 刊物主题：Labor Economics; Population Economics; European Integration;
• 出版者：Springer Berlin Heidelberg
• ISSN：2193-9012
• 卷排序：6

文摘

This paper assesses the relationship between public and private wages in the EU, as measured by general government and manufacturing compensations, respectively. We find that the long-run relation between the two is stronger when the government is a large employer. Manufacturing compensations are better aligned with productivity and unemployment when general government compensations, to which they generally respond, are set through bargaining. Finally, manufacturing compensations react in the same way whether those in the general government sector are increased or cut, a relation that seems to hold also under fiscal consolidation provided the government is a large employer.