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| Author: | Ferenczi, B. |
| Title: | Labor Market Developments in Hungary from a Central Bank Perspective: Stylised Facts |
| Journal: | Russian and East European Finance and Trade
2001 : JAN-FEB, VOL. 37:1, p. 17-74 |
| Index terms: | HUNGARY LABOUR MARKETS LABOUR CENTRAL BANKS |
| Language: | eng |
| Abstract: | In this paper, besides building upon findings of various Hungarian and international research projects, the author only uses published aggregate data to characterize the Hungarian labor market. The author discusses labor supply and demand (with wage developments) separately. In terms of labor supply, the first section covers the issues in the context of both short- and long-run conditions of growth, on the one hand, and supply-side inflationary pressures on the other. The author shows different measures of wage inflation as compared to the simple average wages index, and also the role that irregular wage components might play. Finally, in the context of the real exchange rate literature, the author discusses the empirical implications some propositions related to wages. |
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