| Author (Corporate) | European Commission: DG Economic and Financial Affairs |
|---|---|
| Series Title | European Economy: Economic Papers |
| Series Details | No.270, January 2007 |
| Publication Date | January 2007 |
| ISBN | 92-79-03846-X |
| ISSN | 1725-3187 |
| EC | KC-AI-06-270-EN-C |
| Content Type | Journal | Series | Blog, Report |
|
The length of collective wage agreements in Sweden between 1908 and 2005 is explored to evaluate a variety of policy regimes from the wage contract-makers’ perspective. Adopting a new long-run test, it is found that wage contract length decreases in response to an increase in 'macroeconomic uncertainty' across policy regimes. There is also substantial short-run variation in contract length, which cautions against regime divisions based solely on the policy rule. The inflation targeting regime 1995-2005 stands out as an exceptionally stable policy regime as judged by the willingness of contract-makers to repeatedly commit to three-year non-indexed wage agreements. The results are based on a data base on collective wage agreements unique in international comparisons in terms of length and coverage. |
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| Source Link | http://ec.europa.eu/economy_finance/publications/publication_summary798_en.htm |
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| Countries / Regions | Sweden |
