期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2010
出版社：European Central Bank
摘要：This paper brings together empirical research on price and wage dynamics for the Portuguese economy based both on micro and macro data. As regards rms' pricing behaviour the most noticeable nding is that prices in Portugal are somewhat less exible than in the United States but more exible than in the Euro Area. Regarding rms' wage setting practices, we uncover evidence favouring the hypothesis of aggregate and disaggregate wage exibility. Despite the existence of mandatory minimum wages, the presence of binding wage oors and the general use of extension mechanisms, the rms still retain some ability to circumvent collective agreements via the mechanism of the wage cushion. The evidence also suggests that Portuguese wages behave in a fashion consistent with the wage curve literature, but the responsiveness of real wages to unemployment changes may have declined over the last decade.
关键词：Survey data; wage and price rigidities; persistence; wage cushion.
