Low wage growth in the euro area: main conclusions from the ESCB Wage Expert Group with a focus on Belgium

Article published in the Economic Review of December 2019

Wage growth in both the euro area and Belgium is generally associated with the economic cycle, but this link has become more tenuous in recent years. In Belgium, wage formation is highly institutionalised. The wage moderation measures applied over the last few years have inevitably contributed to the moderate wage growth.

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From 2019 onwards, the articles from the Economic Review are published in French and Dutch in the form of digests, their full version being available only in English.