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The wage dynamics in Spain: evidence from individual data

  • Victor Montuenga

    ()

  • Inmaculada Garcia

In this paper we test the hypothesis of a wage curve against a Phillips curve for Spain within a framework which allos for these both and more general alternatives. To this end, we use data from the European Community Household Panel, which provides micro-information for the period 1994-2001. The results indicate that a partial wage adjustment is at work, as in other European countries, and that the long-run elasticiy of wages to unemploument is close to the 'empirical law of economics' of -0.1

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Paper provided by European Regional Science Association in its series ERSA conference papers with number ersa11p585.

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Date of creation: Sep 2011
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Handle: RePEc:wiw:wiwrsa:ersa11p585
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  15. Douglas Staiger & James H. Stock & Mark W. Watson, 2001. "Prices, Wages and the U.S. NAIRU in the 1990s," NBER Working Papers 8320, National Bureau of Economic Research, Inc.
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  25. Jacob A. Mincer, 1974. "Schooling, Experience, and Earnings," NBER Books, National Bureau of Economic Research, Inc, number minc74-1, August.
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  27. Dyrstad, Jan Morten & Johansen, Kare, 2000. " Regional Wage Responses to Unemployment and Profitabililty: Empirical Evidence from Norwegian Manufacturing Industries," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 62(1), pages 101-17, February.
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