A measure of the changes over time in the direct outcome of collective bargaining in terms of basic pay (i.e. wages and salaries excluding bonuses) at the euro area level. It refers to the implied average change in monthly wages and salaries.
INDICATOR OF NEGOTIATED WAGES
Meaning of INDICATOR OF NEGOTIATED WAGES in English
European Central Bank English Glossary. Английский глоссарий Европейского Центрального Банка. 2012