Technological change has contributed to low wage increases – Riksbank’s Skingsley
Monetary policy can respond by balancing high resource utilisation with price stability
Technological change has contributed to the globalisation of the economy but also has increased uncertainty for workers and reduced wage increases, Sveriges Riksbank’s Cecilia Skingsley said in a speech on March 26.
The recovery across the Western world has not resulted in higher inflation despite lower levels of unemployment, the deputy governor said. Sweden has experienced this same development with a combination of low productivity growth and wage increases.
“Technological innovations and
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