International Wage Curve
AbstractThe 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.
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Bibliographic InfoPaper provided by Centre for Economic Performance, LSE in its series CEP Discussion Papers with number dp0116.
Date of creation: Feb 1993
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