Abstract
This paper undertakes an empirical analysis of the wage-price system in transition economies. Using panel data techniques, we present new estimates of the relationship between wages, labour demand and prices in 5 EU Accession countries: Poland, Hungary, the Czech Republic, Slovenia and Estonia. Particular care is taken to consider the impact of administered pricing decisions on overall price dynamics. A thorough understanding of the wage-price mechanism in the economies of Central and Eastern Europe is now particularly important in light of their current negotiations over European Union membership and ultimately their possible integration into the Euro Area.
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Ashworth, P., Čufer, U., Holland, D. (2002). Modelling the Wage-Price System in Transition Economies. In: Charemza, W.W., Strzała, K. (eds) East European Transition and EU Enlargement. Contributions to Economics. Physica, Heidelberg. https://doi.org/10.1007/978-3-642-57497-9_15
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DOI: https://doi.org/10.1007/978-3-642-57497-9_15
Publisher Name: Physica, Heidelberg
Print ISBN: 978-3-7908-1501-6
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