search query: @indexterm SALARY STRUCTURE / total: 74
reference: 3 / 74
Author: | Holden, S. Nymoen, R. |
Title: | Measuring structural unemployment: NAWRU estimates in the Nordic countries |
Journal: | Scandinavian Journal of Economics
2002 : MAR, VOL. 104:1, p. 87-104 |
Index terms: | Unemployment Economic stability Pay Salary structure Scandinavia Nordic countries |
Freeterms: | Structural unemployment |
Language: | eng |
Abstract: | The non-accelerating wage rate of unemployment, (NAWRU indicator), used by the OECD as a measure of structural unemployment, has risen for the four Nordic countries Denmark, Finland, Norway and Sweden. The paper presents stable empirical wage equations for these countries 1964 - 1994, in sharp contrast to the increased NAWRU estimates. The instability of the NAWRU estimates is an artefact of a misspecified underlying wage equation, and due to instability in wage setting itself. |
SCIMA