The Wage Curve: An Entry Written for the New Palgrave, 2nd Edition

David Blanchflower () and Andrew J. Oswald

No 2138, IZA Discussion Papers from Institute for the Study of Labor (IZA)

Abstract: This paper summarizes evidence for the existence of a wage curve - a downward-sloping relationship between the level of pay and the local unemployment rate - in modern micro data. At the time of writing, the curve has been found in 40 nations. Its elasticity is approximately -0.1.

Keywords: wage determination; unemployment; wage curve; Phillips curve (search for similar items in EconPapers)
JEL-codes: J3 J4 J6 E24 E31 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ltv and nep-mac
Date: 2006-05
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