Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/283537 
Year of Publication: 
2024
Series/Report no.: 
ECB Occasional Paper No. 338
Publisher: 
European Central Bank (ECB), Frankfurt a. M.
Abstract: 
This paper introduces innovative, newly developed forward-looking indicators of negotiated wage growth in the euro area using data on collective bargaining agreements from seven countries: Germany, France, Italy, Spain, the Netherlands, Austria and Greece. The paper demonstrates how agreement-level data can be used to study drivers of aggregate negotiated wage growth, as well as monitor the breadth of wage increases and account for time-varying factors such as one-off payments, when assessing wage pressures. Lastly, the paper shows that the new indicators can provide reliable signals about current and future developments of wage pressures in the euro area while also serving as important cross-checking tools for negotiated wage growth forecasts.
Subjects: 
Negotiated wages
collective bargaining
wage rigidity
wage forecasting
JEL: 
E24
J31
J50
Persistent Identifier of the first edition: 
ISBN: 
978-92-899-6406-7
Document Type: 
Research Report

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