Changes in U.S. and Canadian Wage Dynamics in the 1990s: How Unique Are Favorable U.S. Labor Market Developments?

Mark Partridge

The Review of Regional Studies, 2001, vol. 31, issue 1, 71-93

Abstract: One of the most notable recent U.S. economic developments is the sharp decline in the unemployment rate without a corresponding increase in inflation. This favorable change suggests that the labor market has undergone some important structural shifts. This study uses U.S. state-level data to evalu-atethis possibility. Canadian provincial-level models are also estimated for comparison. The results indicate that U.S. and Canadian regional wage dynam-icswere different in the 1990s than the 1980s. The U.S. findings are consistent with "new economy" interpretations and the results suggest that standard Phillips curve models may be unsuitable for both nations.

Date: 2001
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