From Phillips curve to wage curve

Johan Graafland

MPRA Paper from University Library of Munich, Germany

Abstract: In most traditional macro-economic models of the Netherlands the wage equation is specified by a Phillips curve, in which wage growth is negatively related to the unemployment rate. This paper shows, however, that wage formation can better be described by the so-called wage curve, in which the wage level instead of wage growth depends negatively on the unemployment rate.

Keywords: Phillips curve; wage curve; wage equation; wage bargaining; tax wedge; unemployment (search for similar items in EconPapers)
JEL-codes: H39 J32 J38 J52 (search for similar items in EconPapers)
Date: 1991
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Citations: View citations in EconPapers (5)

Published in De Economist 4.140(1992): pp. 501-514

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:21077

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