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Can the previous year unemployment rate affect productivity? A DPD contrast

Author

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  • Rosario Sánchez Pérez

    (Universitat de València)

Abstract

This paper presents evidence that sector productivity level increases when either relative wage or the level of unemployment rises. It can be established that value added depends not only on present unemployment rate, but also on the level of unemployment of the previous year. Both facts are consistent with the efficiency wage model. Moreover there is support for the idea that an increase in sector's wage with respect to the previous year level, al so increases productivity. The empirical evidence has been obtained using Dynamic Panel Data estimation. Este documento presenta evidencia que el nivel de productividad del sector se incrementa, cuando aumenta el salario relativo o el nivel de desempleo. Se establece que el valor añadido depende no solamente de la tasa de desempleo actual, sino también de la tasa del año anterior. Ambos hechos son consistentes con el modelo de eficiencia salarial. Es más, se sostiene la idea que un aumento en el salario del sector con respecto al del año anterior también incrementa la productividad. La evidencia empírica se obtiene a través de una estimación de panel dinámico de datos.

Suggested Citation

  • Rosario Sánchez Pérez, 1994. "Can the previous year unemployment rate affect productivity? A DPD contrast," Working Papers. Serie EC 1994-10, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    • Handle: RePEc:ivi:wpasec:1994-10
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    File URL: http://www.ivie.es/downloads/docs/wpasec/wpasec-1994-10.pdf
    File Function: Fisrt version / Primera version, 1994
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