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Unemployment, Wage Push and the Labour Cost Competitiveness of Regions - The Case of Hungary, 1986-1996

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Author Info
Gabor Kertesi () (Labour Research Department, Institute of Economics, Hungarian Academy of Sciences)
Janos Kollo () (Labour Research Department, Institute of Economics, Hungarian Academy of Sciences)

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Abstract

The paper analyses regional relative wages using individual and firmlevel data from Hungary 1986-96. In regions hit hard by the transition shock labour costs fell substantially; the estimated elasticities of wages with respect to regional unemployment were in a range typical of mature market economies already in 1992-93. In later stages of the transition the hard-hit rural regions lost a large part of their cost advantage vis-ê-vis Budapest and the central agglomeration for reasons including spatial diseconomies and falling search activity among the registered unemployed. The paper argues that the time path observed in Hungary (a U-curve of relative labour costs in crisis-hit regions) may prevail in other economies calling the attention to the limits of wage flexibility as a cure to persistent regional crises.

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File URL: http://www.econ.core.hu/doc/bwp/bwp/bwp995.pdf
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Publisher Info
Paper provided by Institute of Economics, Hungarian Academy of Sciences in its series Budapest Working Papers on the Labour Market with number 9905.

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Length: 45 pages
Date of creation: Jun 1999
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Handle: RePEc:has:bworkp:9905

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References listed on IDEAS
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  1. Kollo'', Janos & Nagy, Gyula, 1996. "Earnings gains and losses from insured unemployment in Hungary," Labour Economics, Elsevier, vol. 3(3), pages 279-298, October. [Downloadable!] (restricted)
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Cited by:
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  1. Anna Iara & Iulia Traistaru, 2004. "How Flexible are Wages in EU Accession Countries?," ERSA conference papers ersa04p191, European Regional Science Association. [Downloadable!]
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  2. Karoly Fazekas, 2000. "The impact of foreign direct investment inflows on regional labour markets in Hungary," Budapest Working Papers on the Labour Market 0008, Institute of Economics, Hungarian Academy of Sciences. [Downloadable!]
  3. David G. Blanchflower & Andrew J. Oswald, 2005. "The Wage Curve Reloaded," IZA Discussion Papers 1665, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
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