Friday, January 4, 2008

Slovak wages at 685 EUR when entering Eurozone

Nominal expectations can be as important as real ones for possible euro-related real price changes and resource misallocations. I thus bring numbers for the average monthly gross wage in Slovakia at the break of 2009, when the country expects to convert to euro. The average wage, seasonally adjusted, will be 680-690 eur. The figure is to be used in the context of the Slovak economy only, since comparing gross wages across Central-European economies is rather complicated, as I demonstrated before. The expected conversion rate between koruna and euro used in this calculation is 32.63 SKK/EUR (taken from the survey on assessments of Slovakia meeting the Maastricht criteria.

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