National Bank of Hungary paper measures degree of real wage rigidity in labour market

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The degree of downward real wage rigidity ranks among the lowest of countries facing cuts in wages, according to evidence presented in a paper published by the National Bank of Hungary on Wednesday

Gábor Kátay, the paper's author, presents new estimates of downward real and nominal wage rigidity in Hungary to measure the fraction of workers who are potentially subject to downward nominal and downward real wage rigidity, or, in other words, the fraction of those who would receive nominal or real

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