EconPapers    
Economics at your fingertips  
 

Wage Drift and the Relevance of Centralised Wage Setting

Steinar Holden ()

No 04/1998, Memorandum from Oslo University, Department of Economics

Abstract: The system of wage setting in the Nordic countries is often regarded as highly centralised, contributing to considerable real wage flexibility. This view has been questioned, as the sizeable wage drift may offset the effect of the central negociations. This paper presents evidence from the four major Nordic countries, suggesting that there is no or little such offsetting effect. Yet the institutional system of wage formation may induce nominal rigidities at the central negociations, that may prevent wage restraint when there is little room for money wage growth.

Keywords: WAGES (search for similar items in EconPapers)
JEL-codes: J5 (search for similar items in EconPapers)
Pages: 33 pages
Date: 1998
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (49) Track citations by RSS feed

Downloads: (external link)
http://www.sv.uio.no/econ/english/research/unpubli ... 998/Memo-04-1998.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hhs:osloec:1998_004

Access Statistics for this paper

More papers in Memorandum from Oslo University, Department of Economics Department of Economics, University of Oslo, P.O Box 1095 Blindern, N-0317 Oslo, Norway. Contact information at EDIRC.
Bibliographic data for series maintained by Mari Strønstad Øverås ().

 
Page updated 2020-05-27
Handle: RePEc:hhs:osloec:1998_004