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other European countries, the wage adjustment occurs in just one period, with the elasticity of wages to unemployment being …
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This paper summarizes evidence for the existence of a wage curve - a downward-sloping relationship between the level of pay and the local unemployment rate - in modern micro data. At the time of writing, the curve has been found in 40 nations. Its elasticity is approximately -0.1.
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of the wage curve at the regional level, i.e. the relationship between the regional level of wages and regional … unemployment. Real wages adjust to changes in local unemployment in districts with low unemployment rates, a low share of public … sector, wages are negotiated at the economy-wide level, while the variance in regional unemployment does not play a role. …
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costs, through movements from overtime to short-time schedules. Nominal wages dropped relatively modestly while real wages …
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Blanchflower and Oswald (1994) reported that they have found an 'empirical law of economics'--the Wage Curve. Our paper reconsiders the western German Wage Curve using disaggregated regional data and is based on almost one million employees drawn from the Federal Employment Services of Germany...
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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...
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