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Estimating a New Keynesian Wage Phillips Curve

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  • Nicola Viegi
  • Vincent Dadam

Abstract

This paper estimates a New Keynesian Wage Phillips Curve for South Africa to investigate the responsiveness of nominal wages to labour market conditions. The estimation is based on a model with staggered nominal wages setting, where all variations in hired labour input is taking place at the extensive margin. First, we estimate the model using […]

Suggested Citation

  • Nicola Viegi & Vincent Dadam, 2021. "Estimating a New Keynesian Wage Phillips Curve," Working Papers 847, Economic Research Southern Africa.
    • Handle: RePEc:rza:wpaper:847
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    More about this item

    Keywords

    COVID-19; Development Economics; economic theory; Labour Market; lockdown; macroeconomics; public health;
    All these keywords.

    JEL classification:

    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E26 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Informal Economy; Underground Economy
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • H0 - Public Economics - - General
    • I1 - Health, Education, and Welfare - - Health

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