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Wages and unemployment in Poland : recent developments and policy issues

Author

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  • Coricelli, Fabrizio
  • Revenga, Ana

Abstract

The authors review recent developments in wages, employment, and unemployment in Poland and discuss some of the main risks Poland faces in sustaining its stabilization effort. They find that: unemployment has increased dramatically with stabilization, but this increase cannot be said to reflect widespread economic adjustment and restructuring throughout the Polish economy; and wages showed a significant degree of downward flexibility - in real terms - at the beginning of the year, when firms faced a severe supply shock coupled with very tight credit. The wage policy still in force in Poland at the end of 1991 maintains a few undesirable features. The monthly indexation and the possibility of carrying forward the unused margins are among the policy's main drawbacks; another is the link between wages and profitability. The current wage policy could be replaced by a generalized agreement on the wage path, with synchronized six-month contracts. The wage path should be related to expected inflation and economywide productivity. This scheme would also have the advantage of being based on a consensual agreement instead of being perceived as being imposed as a punitive tax.

Suggested Citation

  • Coricelli, Fabrizio & Revenga, Ana, 1992. "Wages and unemployment in Poland : recent developments and policy issues," Policy Research Working Paper Series 821, The World Bank.
    • Handle: RePEc:wbk:wbrwps:821
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    References listed on IDEAS

    as
    1. Commander, Simon*Coricelli, Fabrizio*Staehr, Kar, 1991. "Wages and employment in the transition to a market economy," Policy Research Working Paper Series 736, The World Bank.
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    Cited by:

    1. Riveros,Luis Alfredo, 1991. "Wage and employment policies in Czechoslovakia," Policy Research Working Paper Series 730, The World Bank.

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