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| Author: | Jacobson, T. Ohlsson, H. |
| Title: | Long-run relations between private and public sector wages in Sweden |
| Journal: | Empirical Economics
1994 : VOL. 19:3, p. 343-360 |
| Index terms: | PRIVATE SECTOR PUBLIC SECTOR PAY SWEDEN |
| Language: | eng |
| Abstract: | Using a maximum likelihood cointegration approach the authors find two long-run relationships between central government , local government, and private sector wages in Sweden. This means that there is one common trend for the three sectoral wages. Private sector wages are weakly exogenous for the estimation of the long-run relationships. this suggests that the private sector is the wage leader. Testing linear restrictions on the estimated cointegrating space, the authors reject stationarity for the three relative wages using likelihood ratio-tests. |
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