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Did the Economic Adjustment Programmes Deliver Wage Flexibility in Greece?

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  • Ioannis Laliotis

Abstract

After a period of sequential economic adjustment programmes, recent data show that wages remain irresponsive to local labour market conditions in Greece. Although there is evidence of a weak crosssectional wage curve, it disappears when individual fixed effects are introduced. Despite the extensive labour market reforms, more emphasis to the decentralisation of the wage setting process is needed.

Suggested Citation

  • Ioannis Laliotis, 2019. "Did the Economic Adjustment Programmes Deliver Wage Flexibility in Greece?," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 141, Hellenic Observatory, LSE.
    • Handle: RePEc:hel:greese:141
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    References listed on IDEAS

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    Cited by:

    1. Chisiridis, Konstantinos & Mouratidis, Kostas & Panagiotidis, Theodore, 2022. "The north-south divide, the euro and the world," Journal of International Money and Finance, Elsevier, vol. 121(C).

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    More about this item

    Keywords

    Wage Curve; Reforms; Greece;
    All these keywords.

    JEL classification:

    • F3 - International Economics - - International Finance
    • G3 - Financial Economics - - Corporate Finance and Governance

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