Wage Dynamics Network

The WDN is an ad hoc research network focusing on the analysis of wage cost dynamics. It consists of economists from the European Central Bank (ECB) and the national central banks of the EU Member States, which together make up the European System of Central Banks.

During its first phase (2006-2009), the WDN’s research goal was to identify the sources and features of wage and labour cost dynamics that are most relevant for monetary policy and to clarify the relationship between wages, labour costs and prices.

The second phase of the WDN started in 2013, and its research goal was to assess labour market adjustments in the period 2010-2013 and how firms reacted to the labour market reforms implemented in EU Member States during those years.

In the context of the WDN, three surveys were conducted among European firms, in order to collect information helping to gain a better understanding of the wage cost dynamics and to address the individual research questions of each phase.

WDN survey data are available to researchers upon request from the webpage of the European Central Bank.

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