engleski

FLEXIBILITY OF REAL AND NOMINAL WAGES IN SLOVENIA AND CROATIA: VAR APPROACH

In this paper the flexibility of real and nominal wages in Slovenia and Croatia is investigated. The impact of macroeconomic shocks in real and nominal wages in aforementioned countries is analysed using two unrestricted vector autoregressive models. It is explored whether they show a different behaviour with the respect to the response of nominal and real wages shocks. The initial impacts of the changes in nominal wages and real wages in both coutries are similar and the results of the analysis conducted for Slovenia and Croatia are comparable.

macroeconomic shocks ; real wages ; small open economies ; vector autoregression model ; Western Balkans

Ovaj rad je podržan od strane Hrvatske zaklade za znanost kao dio znanstvenog projekta „Statistical Modelling for Response to Crisis and Economic Growth in Western Balkan Countries“ (STRENGTHS) ; Broj projekta: HRZZ-IP-2013-11-9402, Projektno razdoblje: 2014.-2018 ; Voditeljica: prof. dr. sc. Ksenija Dumičić. Zbornik je citiran u bazama: INSPEC, EconLit, ISI