Navigation Path: Home > Events > Conferences & seminars > Wage Dynamics in Europe: Findings from the Wage Dynamics Network
Venue:
European Central Bank
Eurotower
Kaiserstrasse 29
D-60311 Frankfurt am Main
Organisers:
Patricia Kearns-Endres (ECB Directorate General Research)
Ana Lamo (ECB Directorate General Research)
Frank Smets (ECB Directorate General Research)
Please note that the conference's attendance is by invitation only.
| 08:30 - 09:00 | Registration and coffee |
| 09:00 - 09:15 | Opening address Jean-Claude Trichet, President, (ECB) |
| Session 1: 09:15 - 11:15 |
Labour market institutions, performance and wage structure, Chair: Frank Smets (ECB) |
| Institutional features of wage bargaining in 22 EU countries, the US and Japan
Philip Du Caju (Nationale Bank van België/Banque Nationale de Belgique); Erwan Gautier (Banque de France); Daphne Momferatou and Melanie Ward-Warmedinger (ECB) paper, en slides, en |
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| Changes in the wage structure in EU countries: the impact of macroeconomic trends Rebekka Christopoulou (ECB); Juan F. Jimeno (Banco de España); and Ana Lamo (ECB) paper, en slides, en | |
| Inter-industry wage differentials in EU countries: what do cross country time varying data add to the picture? Philip Du Caju (Nationale Bank van België/Banque Nationale de Belgique); Gábor Kátay (Magyar Nemzeti Bank); Ana Lamo (ECB); Daphne Nicolitsas (Bank of Greece); and Steven Poelhekke (De Nederlandsche Bank) paper, en slides, en | |
| Wage dynamics and labour market dynamics Istvan Konya (Magyar Nemzeti Bank); and Michael Krause (Deutsche Bundesbank) paper, en slides, en Discussion: Christian Dustmann (University College, London) en Robert E. Hall (Stanford University) en | |
| 11:15 - 11:45 | Coffee Break |
| Session 2: 11:45 - 13:00 |
Session 2: Empirical evidence on wage and price setting Chair: Giuseppe Bertola (Università diTorino) |
| How are firms’ wages and prices linked: Survey evidence in Europe Martine Druant (Nationale Bank van België/Banque Nationale de Belgique); Silvia Fabiani (Banca d’Italia); Gabor Kezdi (Central European University); Ana Lamo (ECB); Fernando Martins (Banco de Portugal); Roberto Sabbatini (Banca d’Italia) paper, en slides, en |
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| Costs, demand and producer price changese Claire Loupias (EPEE); and Patrick Sevestre (University of Paris I and Banque de France) paper, en slides, en |
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| The impact of reference norms on inflation persistence when wages are staggered:Theoretical analysis and empirical results Markus Knell and Alfred Stiglbauer (Österreichische Nationalbank) paper, en slides, 1.14 MB en |
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| Inflation dynamics with search and matching in the labour market Kai Christoffel (ECB); James Costain (Banco de España); Keith Kuester (ECB); Tobias Linzert (ECB); Olivier Pierrard (Banque centrale du Luxembourg); Grégory deWalque (Nationale Bank van België/Banque Nationale de Belgique); and Stephen Millard (Bank of England) paper, en slides, 5.52 MB en |
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| 13:00 - 14:00 | Lunch |
| 14:00 - 15:30 | Discussion Alan Blinder (Princeton University) en EtienneWasmer (SciencesPo, Paris) en Andrew Levin (Federal Reserve Board) 2.21 MB en Robert G. King (Boston University) en |
| 15:30 - 16:00 | Coffee Break |
| Session 3: 16:00 - 18:30 |
Downward wage rigidities: evidence and implications Chair: Thomas Lemieux (University of British Columbia) |
| Downward wage rigidity and alternative margins of adjustment. Survey evidence from European firms Jan Babecký (Czech National Bank); Philip Du Caju (Nationale Bank van België/Banque Nationale de Belgique); Theodora Kosma (Bank of Greece); Martina Lawless (Central Bank and Financial Services Authority of Ireland); Julián Messina (Universitat de Girona); and Tairi Rõõm (Eesti Pank) paper, en slides, en |
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| The causes and consequences of nominal and real wage rigidity: a sectoral approach Julián Messina (Universitat de Girona), Philip Du Caju (Nationale Bank van België/Banque Nationale de Belgique); Claudia Filipa Duarte (Banco de Portugal); Mario Izquierdo (Banco de España); and Niels Lynggård Hansen (Danmarks Nationalbank) paper, en slides, en |
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| Downward wage rigidities and optimal monetary policy in a monetary union
Stephan Fahr and Frank Smets (ECB) paper, en slides, en |
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| Downward wage rigidity and optimal steady-state inflation
Gabriel Fagan (ECB); and Julian Messina (Universitat de Girona) paper, 1.5 MB en slides, en Discussion Friedhelm Pfeiffer (ZEW) en William Dickens (Brookings Institution) en Steinar Holden (University of Oslo) en |
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| 19:30 | Reception and dinner |
| 08:30 - 09:00 | Coffee |
| Session 4: 09:00 - 11:30 |
How do wages respond to shocks? Chair: Alan Blinder (Princeton University) |
| Wage and employment response to shocks: evidence from the WDN Survey Giuseppe Bertola (Università di Torino); Aurelijus Dabusinskas (Eesti Pank); Marco Hoeberichts (De Nederlandsche Bank); Mario Izquierdo (Banco de España); Claudia Kwapil (Österreichische Nationalbank); Jeremi Montornès (Banque de France); and Daniel Radowski (Deutsche Bundesbank) paper, en slides, en |
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| Do firms provide wage insurance against shocks? Evidence from Hungary Gábor Kátay (Magyar Nemzeti Bank) paper, en slides, en |
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| Rigid wages and flexible labour? Firm-level evidence based on productivity for Belgium Catherine Fuss and Ladislav Wintr (Nationale Bank van België/Banque Nationale de Belgique) paper, en slides, en |
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| Wage and price dynamics in Portugal Carlos Robalo Marques (Banco de Portugal) paper, en slides, en |
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| Discussion Julio Rotemberg (Harvard Business School) en Fabiano Schivardi (University of Cagliari) en James Malcomson (Oxford University) en |
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| 11:30 - 12:00 | Coffee Break |
| Session 5: 12:00 - 13:00 |
Wages of new hires Chair: Jordi Gali (CREI and UPF) |
| The determination of wages of newly hired employees: Survey evidence on internal versus external factors Kamil Galuscak (Czech National Bank); Alan Murphy (Central Bank and Financial Services Authority of Ireland); Daphne Nicolitsas (Bank of Greece); Frank Smets (ECB); Pawel Strzelecki (National Bank of Poland); and Matija Vodopivec (Bank of Slovenia) paper, en slides, en |
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| Real wages and the business cycle:Accounting for worker and firm heterogeneity Pedro Portugal, Anabela Carneiro and Paulo Guimarães (Banco de Portugal) paper, en slides, en |
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| The generation gap: Relative earnings of young and old workers in Italy Alfonso Rosolia and Roberto Torrini (Banca d’Italia) paper, en slides, en |
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| Sequential bargaining in a New-Keynesian model with frictional unemployment and staggered wage negotiation Gregory de Walque (Nationale Bank van België/Banque Nationale de Belgique); Olivier Pierrard (Banque centrale du Luxembourg); Henri Sneessens (Université Catholique de Louvain); and Raf Wouters (Nationale Bank van België/Banque Nationale de Belgique) paper, en slides, en |
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| 13:00 - 14:00 | Lunch |
| Session 5: 14:00 - 15:30 |
Wage of new hires, continued Chair: Jordi Gali (CREI and UPF) |
| Discussion Truman Bewley (Yale University) en Antonella Trigari (IGIER, Bocconi University) en Thomas Lemieux (University of British Columbia) 2.88 MB en Christian Haefke (Institute for Advanced Studies Vienna) en |
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| 15:30 - 15:45 | Coffee Break |
| 15:30 - 17:00 | Panel discussion Wage dynamics: findings, open questions and policy implications Jørgen Elmeskov (OECD) Christopher Pissarides (London School of Economics) Lucrezia Reichlin (ECB) |
Members of the Scientific Committee
Giuseppe Bertola (Università di Torino); Jordi Gali (CREI and UPF);Thomas Lemieux (University of British Columbia); Frank Smets (ECB)
Social event
Tuesday, 24 June 2008
19.30 Reception and Dinner at the Motions Restaurant,
The Westin Grand Frankfurt
Konrad-Adenauer-Str. 7
Frankfurt am Main
Dress code: Business attire
