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Autoren: 
Martins, Fernando
Datum: 
2011
Reihe/Nr.: 
ECB Working Paper 1314
Zusammenfassung: 
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.
Schlagwörter: 
indexation
institutions
price rigidity
survey data
wage rigidity
JEL: 
D21
E30
J31
Dokumentart: 
Working Paper

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