Wage curve versus Phillips curve: a microeconomic estimation for the Spanish case
The aim of this paper is to test for the existence of a wage curve for the Spanish economy between 1994 and 1996. The results confirm the negative relation between the level of nominal wages and the unemployment rate in local labor markets. We also analyse whether there is a relation between the loc...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Universidad Autónoma Metropolitana
2010-01-01
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| Series: | Análisis Económico |
| Online Access: | http://www.redalyc.org/articulo.oa?id=41313083004 |
| _version_ | 1797283491627401216 |
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| author | José Aixalá Carmen Pelet |
| author_facet | José Aixalá Carmen Pelet |
| author_sort | José Aixalá |
| collection | DOAJ |
| description | The aim of this paper is to test for the existence of a wage curve for the Spanish economy between 1994 and 1996. The results confirm the negative relation between the level of nominal wages and the unemployment rate in local labor markets. We also analyse whether there is a relation between the local unemployment rate and wage changes, as the Phillips curve describes, with disaggregated data, introducing the lagged dependent variable into the specification and check the value of its coefficient. The results do not permit us to affirm that there is evidence of a Phillips curve relation. |
| first_indexed | 2024-03-07T17:32:24Z |
| format | Article |
| id | doaj.art-d54061c6a39c4ccfa6cd76f4c6e6ad38 |
| institution | Directory Open Access Journal |
| issn | 0185-3937 |
| language | English |
| last_indexed | 2024-03-07T17:32:24Z |
| publishDate | 2010-01-01 |
| publisher | Universidad Autónoma Metropolitana |
| record_format | Article |
| series | Análisis Económico |
| spelling | doaj.art-d54061c6a39c4ccfa6cd76f4c6e6ad382024-03-02T17:50:34ZengUniversidad Autónoma MetropolitanaAnálisis Económico0185-39372010-01-0125586175Wage curve versus Phillips curve: a microeconomic estimation for the Spanish caseJosé AixaláCarmen PeletThe aim of this paper is to test for the existence of a wage curve for the Spanish economy between 1994 and 1996. The results confirm the negative relation between the level of nominal wages and the unemployment rate in local labor markets. We also analyse whether there is a relation between the local unemployment rate and wage changes, as the Phillips curve describes, with disaggregated data, introducing the lagged dependent variable into the specification and check the value of its coefficient. The results do not permit us to affirm that there is evidence of a Phillips curve relation.http://www.redalyc.org/articulo.oa?id=41313083004 |
| spellingShingle | José Aixalá Carmen Pelet Wage curve versus Phillips curve: a microeconomic estimation for the Spanish case Análisis Económico |
| title | Wage curve versus Phillips curve: a microeconomic estimation for the Spanish case |
| title_full | Wage curve versus Phillips curve: a microeconomic estimation for the Spanish case |
| title_fullStr | Wage curve versus Phillips curve: a microeconomic estimation for the Spanish case |
| title_full_unstemmed | Wage curve versus Phillips curve: a microeconomic estimation for the Spanish case |
| title_short | Wage curve versus Phillips curve: a microeconomic estimation for the Spanish case |
| title_sort | wage curve versus phillips curve a microeconomic estimation for the spanish case |
| url | http://www.redalyc.org/articulo.oa?id=41313083004 |
| work_keys_str_mv | AT joseaixala wagecurveversusphillipscurveamicroeconomicestimationforthespanishcase AT carmenpelet wagecurveversusphillipscurveamicroeconomicestimationforthespanishcase |