From Phillips curve to wage curve
AbstractIn 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.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 21077.
Date of creation: 1991
Date of revision:
Publication status: Published in De Economist 4.140(1992): pp. 501-514
Phillips curve; wage curve; wage equation; wage bargaining; tax wedge; unemployment;
Find related papers by JEL classification:
- J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy
- J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
- J52 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Dispute Resolution: Strikes, Arbitration, and Mediation
- H39 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Other
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