Price and wage setting in Portugal: learning by asking

Arbeitspapier

This paper presents the main findings of a survey conducted on a sample of Portuguese firms. The main aim was to identify some relevant characteristics about the dynamics of prices and wages in Portugal. The most important conclusions are: i) changes to wages are more synchronized than changes to prices; ii) most wages are defined using inflation as a yardstick, even though there are no formal rules; iii) the wages of most workers are defined in terms of sector-related collective agreements; iv) a considerable proportion of workers receive wages above those been agreed under the collective agreement; v) firms make frequent use of other mechanisms to cut payroll costs as a way of overcoming the restrictions imposed by downward nominal wage rigidity.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: ECB Working Paper ; No. 1314

Classification and Topics

• Classification: Wirtschaft ; Firm Behavior: Theory ; Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data) ; Wage Level and Structure; Wage Differentials
• Subject: indexation ; institutions ; price rigidity ; survey data ; wage rigidity

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Martins, Fernando
• Event: Veröffentlichung
• (who): European Central Bank (ECB)
• (where): Frankfurt a. M.
• (when): 2011

Further information

• Handle: http://hdl.handle.net/10419/153748
• Last update: 10.03.2025, 11:44 AM CET