Price and wage setting in Portugal: learning by asking

Fernando Martins

No 2780, EcoMod2011 from EcoMod

Abstract: This paper presents an analysis of the findings of a survey on a sample of Portuguese firms. The main aim is to identify some relevant characteristics about the dynamics of prices and wages in PortugalSurvey data; Probit modelsThe 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.

Keywords: Portugal; Labor market issues; Miscellaneous (search for similar items in EconPapers)
Date: 2011-07-06
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Citations: View citations in EconPapers (5)

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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:ekd:002625:2780

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