The average monthly nominal wage
of employees in Azerbaijan in January-November 2018 increased by 2.9 percent compared to the same period in 2017, and amounted to 540.1 manats, the State Statistics Committee of Azerbaijan reported.
Even nominal wage
growth rates for animal husbandry, which were robust earlier, fell from 21.48%-34.77% in FY13-15 to 7% FY17-18.
Economic theory says that the two decline in nominal wage
, or an increase in prices of consumer goods will have exactly the same effect on the labour supply.
As consumer prices rise faster, the purchasing power of those earning wages will again increase markedly slower than nominal wages
. Inflation stood at 3% in the first quarter, and so real wage growth was 2.6%.
[A] sharp fall in output could be caused by either a rise in nominal wages
or a fall in the price level.
Summary: The average monthly nominal wages
in Almaty, accrued to employees during the first quarter of 2015 amounted to 152,724 tenge
Using data on nominal wages
of hourly workers in the private sector from the Survey of Income and Program Participation, Mustre-del-Rio constructs the series of monthly wage growth for job switchers (without an intervening spell of joblessness).
Thus, nominal wages
will increase by 10.4% to 14 thousand 900 som ($250).
"As a result, nominal wages
are forecast to grow by 3.7 per cent in 2018, still 0.7 per cent short of the pre-crisis average."
As a result, nominal wages
are forecast to grow by 3.7% in 2018, still 0.7% short of the pre-crisis average.
In most of the models, the efficiency of fiscal devaluation is explained by assuming downward rigid nominal wages
, which initially results in disequilibrium on the labor market.
It is commonly believed that real wages can fall due to high price inflation, but it is widely thought that nominal wages
do not fall (see, inter alia, Bewley, 1999).