ON WAGE FORMATION, WAGE DEVELOPMENT AND UNEMPLOYMENT FLEXIBILITY: A
COMPARISON BETWEEN EUROPEAN COUNTRIES AND THE UNITED STATES
|
Session |
Wage Structures
|
|
Category |
EEA 2003
|
|
Chair(s) |
TBA |
|
Chair(s) |
Bernd Fitzenberger, University of Mannheim |
|
Presenter(s) |
Ard den Reijer, De Nederlandsche Bank |
|
Co-Author(s) |
Marga Peeters, De Nederlandsche Bank |
The abstract for this paper is as follows:
For Germany, Spain, France, the Netherlands and the US an Error Correction Model with a long-term
non-linear wage equation is estimated by 3-SLS to obtain consistent estimates, accounting for
endogeneity and common shocks. On the basis of the estimated parameter elasticities of wages with
respect to labour productivity, value added and consumer prices, taxes, unemployment and
replacement rates are computed along with the wage contributions. The results indicate that the
dominant role of prices in the formation of wages in the seventies and eighties was taken over by
labour productivity in the US and unemployment in Spain and –almost- in the Netherlands at the end
of the nineties. Evidence for a stronger real wage flexibility of the US in comparison with the four
European countries is not found.
|
|
|
When & Where |
|
23 Aug 2003 |
|
10:30 - 12:30 |
|
Room P1 |
|
|
|
Recent Papers
|
|
You have recently looked at these papers:
|
|
Paper Reference: 2014
|
