Wage dynamics in Spain: evidence from individual data (1994-2001)

Inmaculada García-Mainar and Victor Montuenga ()

INVESTIGACIONES REGIONALES - Journal of REGIONAL RESEARCH, 2012, issue 24, 41-58

Abstract: In this paper, we test the hypothesis of a wage curve against a Phillips curve for Spain, within a dynamic framework that allows for both of these, and for more general alternatives. To this end, we use data from the European Community Household Panel, providing micro-information for the period 1994-2001. The results indicate that, contrary to the situation in other European countries, the wage adjustment occurs in just one period, with the elasticity of wages to unemployment being close to the «empirical law of economics» of –0.1.

Keywords: Phillips curve; Wage Curve; dynamic panel data; GMM (search for similar items in EconPapers)
JEL-codes: J30 J60 J64 R23 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:ris:invreg:0003

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