ECB data reveals changes in eurozone wage rigidity
Firms preferred to freeze, rather than cut, wages in 2010–13, the ECB says
Employees' nominal wages in eurozone countries were still downwardly resistant in the 2010–13 period, but less so than previously, according to data published today (August 1) by the European Central Bank (ECB).
Understanding wage rigidities is "crucial for conducting monetary policy effectively and for designing appropriate policies that facilitate macroeconomic adjustments", the ECB argues in a preview of the ECB's next economic bulletin.
Wage data from 25 EU countries was collected by the ECB
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