Template-Type: ReDIF-Paper 1.0
Author-Name: Gábor Kézdi
Author-X-Name-First: Gábor
Author-X-Name-Last: Kézdi
Author-Email: kezdig@ceu.hu
Author-Workplace-Name: Magyar Nemzeti Bank (central bank of Hungary), Central European University, Institute of Economics of the Hungarian Academy of Sciences
Author-Name: István Kónya
Author-X-Name-First: István
Author-X-Name-Last: Kónya
Author-Email: konyai@mnb.hu
Author-Workplace-Name: Magyar Nemzeti Bank (central bank of Hungary)

Title: Wage setting in Hungary: evidence from a firm survey

Abstract: This paper presents new evidence on the flexibility of the Hungarian labor market, with special emphasis on wages. The results are based on a new survey on wage setting among Hungarian firms. The survey is part of the Eurosystem Wage Dynamics Network (WDN), and it is a harmonized questionnaire administered in 17 countries in Europe, including almost all Euro Area countries as well as five Central and Eastern European countries. The survey results show that the Hungarian labor market, while institutionally flexible, appears to be surprisingly rigid. The survey evidence points to low turnover and possibly more rigid wages than previously thought.

Length: 56 pages
Creation-Date: 2012
File-URL: http://www.mnb.hu/letoltes/op-103.pdf
File-Format: Application/pdf
Number: 2012/103
Classification-JEL: C83, J01, J30
Keywords: wage setting, survey, wage dynamics network, Hungary

Handle: RePEc:mnb:opaper:2012/103