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

David Blanchflower and Andrew Oswald

No 2138, IZA Discussion Papers from Institute of Labor Economics (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: E24 E31 J3 J4 J6 (search for similar items in EconPapers)
Pages: 8 pages
Date: 2006-05
New Economics Papers: this item is included in nep-ltv and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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