Structural models of the wage curve estimated by panel data and cross-section regressions

Eddie Gerba, Emmanuel V. Pikoulakis and Tomasz Piotr Wisniewski

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: Introducing equilibrium unemployment to the solution of the intertemporal allocation of non-leisure time, we derive two wage-setting models which we estimate by panel data and cross-section regressions applied on aggregative data. The results support the empirical relation known as the wage-curve, thus enriching and strengthening the microfoundations of that relation.

Keywords: wage curve; intertemporal allocation; two-sector model (search for similar items in EconPapers)
JEL-codes: E22 E23 E24 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2014-02-26
New Economics Papers: this item is included in nep-mac
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