Reconciling wage curve and Phillips curve
The wage curve is the negative relationship that links wage levels to the unemployment rate. It fits accurately with modern non-competitive labour-market models, but goes against a Phillips-curve modelling, because the latter ties wage growth to the unemployment rate. In this article, we present a c...
| Autores: | , |
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| Tipo de recurso: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 2005 |
| País: | España |
| Institución: | Universidad de La Rioja (UR) |
| Repositorio: | RIUR. Repositorio Institucional de la Universidad de La Rioja |
| OAI Identifier: | oai:portal.dialnet.es:doc/5bbc683ab750603269e804fe |
| Acceso en línea: | https://investigacion.unirioja.es/documentos/5bbc683ab750603269e804fe |
| Access Level: | acceso abierto |
| Palabra clave: | Involuntary unemployment Phillips curve Wage curve |
| Sumario: | The wage curve is the negative relationship that links wage levels to the unemployment rate. It fits accurately with modern non-competitive labour-market models, but goes against a Phillips-curve modelling, because the latter ties wage growth to the unemployment rate. In this article, we present a comprehensive review of these non-competitive models, highlighting recent contributions that try to eliminate the possible 'gap' that exists between the concepts of the wage curve, on the one hand, and the Phillips curve, on the other. © 2005 Blackwell Publishing Ltd,. |
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