International Wage Curve

David Blanchflower and Andrew Oswald

CEP Discussion Papers from Centre for Economic Performance, LSE

Abstract: The paper provides international evidence for the existence of a negatively sloped locus linking the level of pay to the rate of regional (or industry) unemployment. This 'wage curve' is found using microeconomic data for Britain, the US, Canada, Korea, Austria, Italy, Holland, Switzerland, Norway and Germany. The average unemployment elasticity of pay is approximately -0.1. The paper sets out a multi-region efficiency wage model as one possible interpretation of the data.

Date: 1993-02
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Related works:
Chapter: International Wage Curves (1995)
Working Paper: International Wage Curves (1992)
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Persistent link: https://EconPapers.repec.org/RePEc:cep:cepdps:dp0116

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