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Price and wage setting in Portugal: learning by asking

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  • FERNANDO MARTINS

Abstract

This paper presents an analysis of the findings of a survey on a sample of Portuguese firms. The main aim is to identify some relevant characteristics about the dynamics of prices and wages in PortugalSurvey data; Probit modelsThe most important conclusions are: i) changes to wages are more synchronized than changes to prices; ii) most wages are defined using inflation as a yardstick, even though there are no formal rules; iii) the wages of most workers are defined in terms of sector-related collective agreements; iv) a considerable proportion of workers receive wages above those been agreed under the collective agreement; v) firms make frequent use of other mechanisms to cut payroll costs as a way of overcoming the restrictions imposed by downward nominal wage rigidity.

Suggested Citation

  • Fernando Martins, 2011. "Price and wage setting in Portugal: learning by asking," EcoMod2011 2780, EcoMod.
    • Handle: RePEc:ekd:002625:2780
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    Cited by:

    1. Dias, Daniel A. & Marques, Carlos Robalo & Martins, Fernando, 2013. "Wage rigidity and employment adjustment at the firm level: Evidence from survey data," Labour Economics, Elsevier, vol. 23(C), pages 40-49.
    2. Gani Ramadani & Nikola Naumovski, 2014. "Wage and Price Setting in Macedonia: Evidence from Survey Data," Working Papers 2015-05, National Bank of the Republic of North Macedonia.
    3. Gani Ramadani, 2017. "Measuring wage and price stickiness using firm-level data and potential implications for monetary policy in Macedonia," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Statistical implications of the new financial landscape, volume 43, Bank for International Settlements.

    More about this item

    Keywords

    Portugal; Labor market issues; Miscellaneous;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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