Knell, Mark; Stiglbauer, Alfred - European Central Bank - 2009
collectively bargained wages in
Austria from 1980 to 2006 we show that wage-setting is strongly influenced by
reference norms … theoretical part we extend the classical, two period staggered-wage model by Taylor
(1980) to allow for reference norms. We show … Austria from 1980 to 2006 to study the interplay between reference norms and
staggered wages. The dataset comprises around 100 …