haku: @author Katz, L. / yhteensä: 5
viite: 1 / 5
« edellinen | seuraava »
Tekijä: | Blanchard, O. Katz, L. |
Otsikko: | Wage dynamics: reconciling theory and evidence |
Lehti: | American Economic Review
1999 : MAY, VOL. 89:2, p. 69-74 |
Asiasana: | ECONOMICS PAY THEORIES |
Kieli: | eng |
Tiivistelmä: | U.S. macroeconomic evidence shows a negative relation between the rate of change of wages and the unemployment rate, conditional on lagged price inflation. This (wage) Phillips-curve relationship can be interpreted as a negative relation between the expected rate of change of the real wage and unemployment. In contrast, most theories of the natural rate of unemployment imply a "wage curve", that is, a negative relation between the level of the real wage and unemployment, given the reservation wage and the level of productivity. |
« edellinen | seuraava »
SCIMA