A forward-looking tracker of negotiated wages in the euro area

Gόrnicka, Lucyna; Koester, Gerrit; Radowski, Daniel; Gautier, Erwan; Peinado, Mario Izquierdo; Stiglbauer, Alfred; Wittekopf, David; Puente, Sergio; Duarte, Claudia; Martins, Fernando; Basso, Gaetano; Lydon, Reamonn; Ploj, Gasper; Polemidiotis, Marios; Pönkä, Harri; Obstbaum, Meri; Petroulas, Pavlos; Veiga, Cindy; Beka, Jan; Benatti, Nicola; Fagandini, Bruno; Healy, Peter; Nizzi, Raffaella; Colonna, Fabrizio; Volkerink, Maikel; Antonopoulos, Christos; Bing, Matthias; Piryankov, Evgeni; Jimenez, Angel Luis Gomez; Saks, Yves; Coppens, Barbara; Francesco, D’Amuri,; Zajankauskaitė, Justina; Pribuišis, Kristupas; Lindič, Mojca; Doliak, Michal; Monza, Aurora; Roca I Llevadot, Marc; Polichetti, Gaetano; Gardin, Giulia

A forward-looking tracker of negotiated wages in the euro area

Lucyna Gόrnicka, Gerrit Koester, Daniel Radowski, Erwan Gautier, Mario Izquierdo Peinado, Alfred Stiglbauer, David Wittekopf, Sergio Puente, Claudia Duarte, Fernando Martins, Gaetano Basso, Reamonn Lydon, Gasper Ploj, Marios Polemidiotis, Harri Pönkä, Meri Obstbaum, Pavlos Petroulas, Cindy Veiga, Jan Beka, Nicola Benatti, Bruno Fagandini, Peter Healy, Raffaella Nizzi, Fabrizio Colonna, Maikel Volkerink, Christos Antonopoulos, Matthias Bing, Evgeni Piryankov, Angel Luis Gomez Jimenez, Yves Saks, Barbara Coppens, D’Amuri, Francesco, Justina Zajankauskaitė, Kristupas Pribuišis, Mojca Lindič, Michal Doliak, Aurora Monza, Marc Roca I Llevadot, Gaetano Polichetti and Giulia Gardin

No 338, Occasional Paper Series from European Central Bank

Abstract: This paper introduces innovative, newly developed forward-looking indicators of negotiated wage growth in the euro area using data on collective bargaining agreements from seven countries: Germany, France, Italy, Spain, the Netherlands, Austria and Greece. The paper demonstrates how agreement-level data can be used to study drivers of aggregate negotiated wage growth, as well as monitor the breadth of wage increases and account for time-varying factors such as one-off payments, when assessing wage pressures. Lastly, the paper shows that the new indicators can provide reliable signals about current and future developments of wage pressures in the euro area while also serving as important cross-checking tools for negotiated wage growth forecasts. JEL Classification: E24, J31, J50

Keywords: collective bargaining; negotiated wages; wage forecasting; wage rigidity (search for similar items in EconPapers)
Date: 2024-02
New Economics Papers: this item is included in nep-eec, nep-eur, nep-inv and nep-lab
Note: 3015628
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbops:2024338

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