The growth rate of real hourly wages in France has fallen below the trend growth rate of total factor productivity. The distribution of wage and earnings growth has not been uniform across deciles. A breakdown in employment growth by wage deciles also suggests important composition changes. The...

Der Länderbericht des IMF über Usbekistan gibt einen Überblick über den wirtschaftlichen Hintergrund und die Wirtschaftsstruktur des Landes. In weiteren Kapiteln wird die jüngere wirtschaftliche Entwicklung und die Wirtschafts- und Reformpolitik für 1992 dargestellt. Die Felder für...

Der Bericht des IMF über Tadschikistan gibt einen Überblick über die Wirtschaftsstruktur des Landes und beschreibt dann die jüngere Wirtschaftsentwicklung anhand der einzelnen volkswirtschaftlichen Aggregate. In einem weiteren Kapitel werden die Felder der Wirtschafts- und Reformpolitik...

This paper reviews several methods to measure wage flexibility, and their suitability for evaluating the extent of such flexibility during times of structural change, when wage distributions and wage curves can be particularly volatile. The paper uses nonparametric estimation to capture possible...

This Selected Issues paper and Statistical Appendix examines inflation and wage dynamics in Finland. The paper discusses the data set used (quarterly data covering from 1975 to 1995) and the statistical properties of the relevant time series. It presents the model and the empirical estimates,...

Search models with posting and match-specific heterogeneity generate wage dispersion. Given K values for the match-specific variable, it is known that there are K reservation wages that could be posted, but generically never more than two actually are posted in equilibrium. What is unknown is...

This paper assesses Romania’s Third Review Under the Stand-By Arrangement and a Request for Waiver of Performance Criterion. Romania’s macroeconomic performance continued to be favorable, but slippages in wage policy and privatization delayed the completion of the third review....

In flow models of the labor market, wages are determined by negotiations between workers and employers on the surplus value of a realized match. From this perspective, this paper presents an econometric analysis of the influence of labor market flows on wage formation as an alternative to the...

This Selected Issues paper for the United States discusses the microeconomics of the country—household wealth and savings. Households’ consumption-saving decisions have an important bearing on the U.S. economic outlook. This paper demonstrates how households with consistently lower...

Bulgaria’s potential output growth in future could be markedly lower, and it may take considerable time for the excess labor and resources to be absorbed by other sectors, in particular by the export sector. This suggests that the natural level of rate of unemployment will rise and remain...