@article{2017:kosanovi:comparativ,
title = {Comparative analysis of wages in central and eastern EuropeRajko Kosanović, Sanja Paunović and Bruno S. Sergi},
year = {2017},
note = {This article reviews the recent performance of south-east European,
and eastern European, economies on the issue of wages, inequality and
the role of the minimum wage. Rises in inequality are often associated
with market liberalisation in transition economies, stemming from
unemployment and a reversal of communist societies’ heavy investment
in the stock of human capital, although it is also true to say that
some economies have managed at least to see the position deteriorate
no further as a result of economic growth and effective fiscal
redistribution measures. Real wage developments are important for
domestic purchasing power and for welfare, but also for economic
growth. Real wages have lagged behind productivity in south-east
European countries in the entire period since 2008, although minimum
wages have seen a process of catching up since 2012 and a small
process of income redistribution. The result, otherwise, is clear in
terms of the impact both on workers as well as on aggregate demand of
a disconnect between economic growth and wage growth, which will be to
the long-term detriment of societies in the region.},
journal = {SEER Journal for Labour and Social Affairs in Eastern Europe},
pages = {159--180},
author = {Kosanović, Rajko and Paunović, Sanja and Sergi, Bruno S.},
volume = {20},
number = {2}
}