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Wage Tendency in Albania; The Reaction to the Global Economic and Financial Crisis

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  • Imelda Sejdini

    (Aleksander Xhuvani University, Albany.)

Abstract

Wage of both public and private sectors is a very important source of incomes for most of the population in Albania. The importance of public sector wage policy exceeds the sector's actual share of total employment, because the level of wages in this sector is, to a certain extent, a point of reference for wages in the private sector, too. During the first transition years the wages of a great number of the employees, whose enterprises had stopped being operational, were practically a form of social support. The data for this paper are gathered from all the surveys done on wages during transition from the public sources and the institute of statistics. From these data results that the wages have increased recurrently, first of all to counter the inflationary effects and to provide a better remuneration to the employees in both sector, despite the global financial crisis. This is due to the lack of full integration in the global markets. In this paper we discuss about the wage tendency in Albania as a country in further development, exposed to the risks of the global financial crisis, and the reaction to the difficulties encountered while the country is preparing for the EU integration.

Suggested Citation

  • Imelda Sejdini, 2011. "Wage Tendency in Albania; The Reaction to the Global Economic and Financial Crisis," International Journal of Economics and Financial Issues, Econjournals, vol. 1(3), pages 139-144, September.
  • Handle: RePEc:eco:journ1:2011-03-6
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    References listed on IDEAS

    as
    1. Johansen, Soren & Juselius, Katarina, 1990. "Maximum Likelihood Estimation and Inference on Cointegration--With Applications to the Demand for Money," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 52(2), pages 169-210, May.
    2. Jawaid, Syed Tehseen & Arif, Imtiaz & Naeemullah, Syed Muhammad, 2010. "Comparative analysis of monetary and fiscal Policy: a case study of Pakistan," MPRA Paper 30850, University Library of Munich, Germany, revised Dec 2010.
    3. Hendry, David F, 1980. "Econometrics-Alchemy or Science?," Economica, London School of Economics and Political Science, vol. 47(188), pages 387-406, November.
    4. Johansen, Soren, 1991. "Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models," Econometrica, Econometric Society, vol. 59(6), pages 1551-1580, November.
    5. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Wage; Financial crisis; Income;

    JEL classification:

    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • G01 - Financial Economics - - General - - - Financial Crises
    • J33 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Compensation Packages; Payment Methods

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