Price and wage setting in Portugal learning by asking

Fernando Martins

Working Papers from Banco de Portugal, Economics and Research Department

Abstract: This paper presents the main findings of a survey conducted on a sample of Portuguese firms. The main aim was to identify some relevant characteristics about the dynamics of prices and wages in Portugal. The most important conclusions are: i) changes to wages are more synchronized than changes to prices; ii) most wages are defined using inflation as a yardstick, even though there are no formal rules; iii) the wages of most workers are defined in terms of sector-related collective agreements; iv) a considerable proportion of workers receive wages above those been agreed under the collective agreement; v) firms make frequent use of other mechanisms to cut payroll costs as a way of overcoming the restrictions imposed by downward nominal wage rigidity.

JEL-codes: D21 E30 J31 (search for similar items in EconPapers)
Date: 2011
New Economics Papers: this item is included in nep-hme and nep-lab
References: View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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https://www.bportugal.pt/sites/default/files/anexos/papers/wp201109.pdf

Related works:
Working Paper: Price and wage setting in Portugal: learning by asking (2011)
Working Paper: Price and wage setting in Portugal: learning by asking (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:ptu:wpaper:w201109

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