Gambetti, Luca; Messina, Julián - 2016
This paper examines the evolution of the cyclicality of real wages and employment in four Latin American economies … (Brazil, Chile, Colombia and Mexico) during the period 1980-2010. Wages are highly pro-cyclical during the 1980s and early … 1990s, a period characterized by high inflation. As inflation declined wages became less pro-cyclical, a feature that is …