Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/175734
Authors: 
Izquierdo, Mario
Jimeno, Juan Francisco
Kosma, Theodora
Lamo, Ana
Millard, Stephen
Rõõm, Tairi
Viviano, Eliana
Year of Publication: 
2017
Series/Report no.: 
ECB Occasional Paper 192
Abstract: 
Against the backdrop of continuing adjustment in EU labour markets in response to the Great Recession and the sovereign debt crisis, the European System of Central Banks (ESCB) conducted the third wave of the Wage Dynamics Network (WDN) survey in 2014-15 as a follow-up to the two previous WDN waves carried out in 2007 and 2009. The WDN survey collected information on wage-setting practices at the firm level. This third wave sampled about 25,000 firms in 25 European countries with the aim of assessing how firms adjusted wages and employment in response to the various shocks and labour market reforms that took place in the European Union (EU) during the period 2010-13. This paper summarises the main results of WDN3 by identifying some patterns in firms' adjustments and labour market reforms. It seeks to lay out the main lessons learnt from the survey in terms of both the general response of EU labour markets to the crisis and how these responses varied across the countries that took part in the survey.
Subjects: 
Wage Dynamics Network
Survey data
Labour market adjustment
Labour market reforms
JEL: 
E24
J30
J52
J68
Persistent Identifier of the first edition: 
ISBN: 
978-92-899-2854-0
Document Type: 
Research Report

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