Real Wages in the Manufacturing Industry in Macedonia: The Role of Macroeconomic Factors, with Reference to Recession Times

Marjan Petreski () and Nikica Mojsoska-Blazevski

Economic Research-Ekonomska Istraživanja, 2013, vol. 26, issue 4, 113-126

Abstract: In this paper we analyze the determinants of real wages in Macedonia’s manufacturing sector. We emphasize the macroeconomic aspects involved, and use econometric panel data techniques to model the behaviour of real wages for the period 2005-2010, using monthly data. We find non-negligible persistence of real wages. We further find a role for overall unemployment, real exchange rate and the tariff index in determining real wages.

Date: 2013
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Working Paper: Real Wages in the Manufacturing Industry in Macedonia: The Role of Macroeconomic Factors, with reference to recession times (2011)
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DOI: 10.1080/1331677X.2013.11517634

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