International Wage Curves

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   (313 K)

The paper provides evidence for the existence of a negatively sloped locus linking the level of pay to the rate of regional (or industry) unemployment. This "wage curve" is estimated using microeconomic data for Britain, the US, Canada, Korea, Austria, Italy, Holland, Switzerland, Norway, and Germany, The average unemployment elasticity of pay is approximately -0.1. The paper sets out a multi-region efficiency wage model and argues that its predictions are consistent with the data.

Published:

• Differences and Changes in Wage Structures, ed. Katz and Freeman, University of Chicago Press, 1995 ,
• International Wage Curves, David G. Blanchflower, Andrew Oswald, in Differences and Changes in Wage Structures (1995), University of Chicago Press
  

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