Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/90800
Authors: 
Holden, S.
Year of Publication: 
1998
Series/Report no.: 
Memorandum, Department of Economics, University of Oslo 04/1998
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.
Subjects: 
wages
JEL: 
J5
Document Type: 
Working Paper

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