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Real Wages in the Manufacturing Industry in Macedonia: The Role of Macroeconomic Factors, with Reference to Recession Times

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  • Marjan Petreski
  • Nikica Mojsoska-Blazevski

Abstract

In this paper we analyze the determinants of real wages in Macedonia’s manufacturing sector. We emphasize the macroeconomic aspects involved, and use econometric panel data techniques to model the behaviour of real wages for the period 2005-2010, using monthly data. We find non-negligible persistence of real wages. We further find a role for overall unemployment, real exchange rate and the tariff index in determining real wages.

Suggested Citation

  • Marjan Petreski & Nikica Mojsoska-Blazevski, 2013. "Real Wages in the Manufacturing Industry in Macedonia: The Role of Macroeconomic Factors, with Reference to Recession Times," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 26(4), pages 113-126, January.
    • Handle: RePEc:taf:reroxx:v:26:y:2013:i:4:p:113-126
    DOI: 10.1080/1331677X.2013.11517634
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    More about this item

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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