From Phillips curve to wage curve

In 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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Year of publication:	1991
Authors:	Graafland, J.J.

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Type of publication:	Book / Working Paper
Language:	English
Notes:	Graafland, J.J. (1991): From Phillips curve to wage curve. Published in: De Economist , Vol. 140, No. 4 (1992): pp. 501-514.
Classification:	J38 - Public Policy ; J32 - Nonwage Labor Costs and Benefits; Private Pensions ; J52 - Dispute Resolution: Strikes, Arbitration, and Mediation ; H39 - Fiscal Policies and Behavior of Economic Agents. Other
Source:	BASE

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