Wage Development in Denmark
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| Author(s): | Hansen, Niels Lynggård |
| Subject: | Danish economy; Inflation, wages and prices |
| Type: | Monetary Review, 2. Quarter 1998, page 54-72 |
| Year of publication: | 1998 |
| Date of publication: | 07/21/1998 |
In recent years wage increases in Denmark have been at a historically low and stable level. From mid-1995 to the end of 1997 hourly wages for workers in manufacturing, which are the topic of this article, thus rose at a by and large unchanged rate of approximately 4 per cent per annum, cf. Chart 1. From the end of 1991 to 1995 the wage increases were even lower, ranging from 2 to 4 per cent per annum, a level otherwise not seen since 1950. This level of Danish wage increases to a great extent reflects an international trend following the general reduction in the inflation rates of many countries since the 1980s.
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