Real Wages, Employment, and the Phillips Curve
AbstractA recent study by Mark J. Bils (1985) found real wages to be procyclical, contradicting previous findings by Patrick T. Geary and John Kennan (1982), who found no consistent relationship, and Salih N. Neftci (1978), who found countercyclical movements in real wages. These studies differed in both methodology and sample period. In this study, the authors find that real wages are either procyclical or countercyclical depending on the sample period chosen. Employment changes generated by aggregate supply shocks are associated with procyclical real wage movements, while during years dominated by shifts in aggregate demand, real wages are highly countercyclical. Copyright 1989 by University of Chicago Press.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Political Economy.
Volume (Year): 97 (1989)
Issue (Month): 3 (June)
Contact details of provider:
Web page: http://www.journals.uchicago.edu/JPE/
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Sharon J. Erenburg, 1993. "Productivity, Private and Public Capital, and Real Wage in the United States, 1948-1990," Economics Working Paper Archive wp_94, Levy Economics Institute.
- Ulrich Woitek, 2004. "Real Wages and Business Cycle Asymmetries," CESifo Working Paper Series 1206, CESifo Group Munich.
- Chandranath Amarasekara & George J. Bratsiotis, 2012.
"Monetary policy and real wage cyclicality,"
Taylor & Francis Journals, vol. 44(33), pages 4391-4408, November.
- Chandarath Amarasekara & George Bratsiotis, 2009. "Monetary Policy and Real Wage Cyclicality," Centre for Growth and Business Cycle Research Discussion Paper Series 122, Economics, The Univeristy of Manchester.
- Dibooglu, Selahattin & Enders, Walter, 2001. "Do Real Wages Respond Asymmetrically to Unemployment Shocks? Evidence from the U.S. and Canada," Journal of Macroeconomics, Elsevier, vol. 23(4), pages 495-515, October.
- repec:spo:wpecon:info:hdl:2441/f4rshpf3v1umfa09lat214kj4 is not listed on IDEAS
- Erica L. Groshen & Mark E. Schweitzer, 1996. "Macro- and microeconomic consequences of wage rigidity," Working Paper 9607, Federal Reserve Bank of Cleveland.
- Charles A. Fleischman, 1999. "The causes of business cycles and the cyclicality of real wages," Finance and Economics Discussion Series 1999-53, Board of Governors of the Federal Reserve System (U.S.).
- Anne-Gisèle Privat, 2005. "L'avenir des retraites en France: Evalutation de l'impact des réformes de 1993 et de 2033 à l'aide du modèle de microsimulation Artémis," Sciences Po publications info:hdl:2441/f4rshpf3v1u, Sciences Po.
- Nicholas Apergis & Alexandros Panethimitakis, 2011. "Stylised facts of Greek business cycles: new evidence from aggregate and across regimes data," International Journal of Economics and Business Research, Inderscience Enterprises Ltd, vol. 3(2), pages 147-165.
- Martin Schmidt, 2003. "The relative adjustment of wages and prices: direct tests within a multiple-equation system," Applied Economics, Taylor & Francis Journals, vol. 35(8), pages 985-997.
- S. Rao Aiyagari, 1995.
"Comments on Farmer and Guo's "The econometrics of indeterminacy: an applied study.","
543, Federal Reserve Bank of Minneapolis.
- S. Rao Aiyagari, 1995. "Comments on Farmer and Guo's "the econometrics of indeterminacy: an applied study."," Staff Report 196, Federal Reserve Bank of Minneapolis.
- Kandil, Magda, 2007. "The wage-price spiral: International evidence and implications," Journal of Economics and Business, Elsevier, vol. 59(3), pages 212-240.
- Anabela Carneiro & Pedro Portugal, 2004.
"Workers' Flows and Real Wage Cyclicality,"
CEF.UP Working Papers
0402, Universidade do Porto, Faculdade de Economia do Porto.
- Carneiro, Anabela & Portugal, Pedro, 2007. "Workers’ Flows and Real Wage Cyclicality," IZA Discussion Papers 2604, Institute for the Study of Labor (IZA).
- Anabela Carneiro & Pedro Portugal, 2004. "Workers' Flows and Real Wage Cyclicality," Working Papers w200409, Banco de Portugal, Economics and Research Department.
- Magda Kandil, 2010. "Demand shocks and the cyclical behavior of the real wage: Some international evidence," Journal of Applied Economics, Universidad del CEMA, vol. 0, pages 135-158, May.
- Sharon J. Erenburg, . "Linking Public Capital to Economic Performance, Public Capital: The Missing Link Between Investment and Economic Growth ," Economics Public Policy Brief Archive 14, Levy Economics Institute.
- Cervini-Plá, María & Silva, José I. & López-Villavicencio, Antonia, 2012. "Labor disruption costs and real wages cyclicality," MPRA Paper 42366, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Journals Division).
If references are entirely missing, you can add them using this form.