Wage and price dynamics in Portugal

  title={Wage and price dynamics in Portugal},
  author={Carlos Robalo Marques},
This paper investigates the persistence of aggregate wages and prices in Portugal assuming a model of a unionized economy with imperfect competition. An impulse response analysis is conducted where the structural shocks are identi…ed by taking into account the long-run properties of the model, as well as the cointegrating and weak-exogeneity properties of the system. Real wages and wage in‡ation emerge as especially persistent following an import price shock, while price in‡ation is more… CONTINUE READING
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