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Structural models of the wage curve estimated by panel data and cross-section regressions

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  • Gerba, Eddie
  • Pikoulakis, Emmanuel V.
  • Wisniewski, Tomasz Piotr

Abstract

Introducing equilibrium unemployment to the solution of the intertemporal allocation of non-leisure time, we derive two wage-setting models which we estimate by panel data and cross-section regressions applied on aggregative data. The results support the empirical relation known as the wage-curve, thus enriching and strengthening the microfoundations of that relation.

Suggested Citation

  • Gerba, Eddie & Pikoulakis, Emmanuel V. & Wisniewski, Tomasz Piotr, 2014. "Structural models of the wage curve estimated by panel data and cross-section regressions," LSE Research Online Documents on Economics 56395, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:56395
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    File URL: https://researchonline.lse.ac.uk/id/eprint/56395/
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    References listed on IDEAS

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    1. Blanchflower, David G. & Oswald, Andrew J., 2005. "The Wage Curve Reloaded," IZA Discussion Papers 1665, IZA Network @ LISER.
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    3. Barro, Robert J & Lee, Jong-Wha, 2001. "International Data on Educational Attainment: Updates and Implications," Oxford Economic Papers, Oxford University Press, vol. 53(3), pages 541-563, July.
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    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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