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Cointegrating Sectoral Wages in Sweden - a Maximum Likelihood Approach

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Author Info

  • Jocobson, T.
  • Ohlsson, H.

Abstract

Using a maximum likelihood cointegration approach, we find two long-run relationships between central government, local government, and private sector wages in Sweden. This means that there is one common trend for the three sectoral wages. Private sector wages are weakly exogenous for the estimation of the long-run relationships. This suggests that the private sector is the wage leader. Testing linear restrictions on the estimated cointegrating space, we reject stationarity for the three relative wages using likelihood ratio-tests. The hypotheses of homogeneity for the two cointegrating vectors, i.e., that wages do not diverge in the long run, is also rejected.

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Bibliographic Info

Paper provided by Uppsala - Working Paper Series in its series Papers with number 1991t.

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Length: 34 pages
Date of creation: 1991
Date of revision:
Handle: RePEc:fth:uppaal:1991t

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Postal: UPPSALA UNIVERSITY, DEPARTMENT OF ECONOMICS, S-751 20 UPPSALA SWEDEN.
Phone: + 46 18 471 25 00
Fax: + 46 18 471 14 78
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Web page: http://www.nek.uu.se/
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Related research

Keywords: unemployment ; wages;

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Cited by:
  1. Dustmann, C. & Soest, A.H.O. van, 1995. "Generalized switching regression analysis of private and public sector wage structures in Germany," Discussion Paper 1995-44, Tilburg University, Center for Economic Research.
  2. J. Lindquist & Roger Vilhelmsson, 2006. "Is the Swedish central government a wage leader?," Applied Economics, Taylor and Francis Journals, vol. 38(14), pages 1617-1625.
  3. António Afonso & Pedro Gomes, 2008. "Interactions between Private and Public Sector Wages," Working Papers 2008/55, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon..
  4. Javier Pérez & A. Sánchez, 2011. "Is there a signalling role for public wages? Evidence for the euro area based on macro data," Empirical Economics, Springer, vol. 41(2), pages 421-445, October.
  5. Joaquín Andaluz, 2011. "Validity of the “Principle of Maximum Product Differentiation” in a unionized mixed-duopoly," Journal of Economics, Springer, vol. 102(2), pages 123-136, March.
  6. Christofides, Louis N. & Pashardes, Panos, 2002. "Self/paid-employment, public/private sector selection, and wage differentials," Labour Economics, Elsevier, vol. 9(6), pages 737-762, December.
  7. Gaetano D’Adamo, 2011. "Wage spillovers across sectors in Eastern Europe," Working Papers 1122, Department of Applied Economics II, Universidad de Valencia.
  8. Backman, Mikaela & Bjerke, Lina, 2009. "Returns to Higher Education - a regional perspective," Working Paper Series in Economics and Institutions of Innovation 171, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
  9. D'Adamo, Gaetano, 2011. "Wage spillovers across sectors in Eastern Europe," MPRA Paper 27841, University Library of Munich, Germany.
  10. Friberg, Kent, 2003. "Intersectoral Wage Linkages in Sweden," Working Paper Series 158, Sveriges Riksbank (Central Bank of Sweden).

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