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Wage Dynamics in Bulgaria: Co-movement and Causality

Hristina Manolova and Aleksandar Vasilev

Bulgarian Economic Papers from Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria // Center for Economic Theories and Policies at Sofia University St Kliment Ohridski

Abstract: Motivated by recent debates on the possible role of wages as an income policy tool, in this study we examine the dynamic inter-relationship between wages in Bulgaria, mainly in the context of its EU accession. Relative to the WDN studies on the other EU member states, the novelty in this paper is the inclusion of the minimum wage as a possible conditional determinant of the other two wages. We demonstrate that minimum wage increases do not cause changes in average wages in either the government or the private sector. Using variety of econometric tests, we also demonstrate the leadership of private sector wage over public compensation and recommend the implementation of policy measures aimed at labor productivity growth.

Keywords: public sector wages; private sector wages; minimum wages; causality (search for similar items in EconPapers)
JEL-codes: C32 E62 J3 J4 (search for similar items in EconPapers)
Pages: 41 pages
Date: 2017-09, Revised 2017-09
New Economics Papers: this item is included in nep-lma, nep-mac and nep-tra
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https://www.uni-sofia.bg/index.php/eng/content/dow ... file/BEP-2017-08.pdf First version, 2017 (application/pdf)

Related works:
Journal Article: Wage Dynamics and Bulgaria Co-Movement and Causality (2019) Downloads
Journal Article: Wage Dynamics and Bulgaria: Co-movement and Causality (2019) Downloads
Working Paper: Wage Dynamics in Bulgaria: Co-movement and Causality (2017) Downloads
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