The wage curve reloaded
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Author
Contributions
- Oswald, Andrew J. - Contributor
- National Bureau of Economic Research. - Contributor
Publication
2005 - National Bureau of Economic Research, Cambridge, Mass, Massachusetts
Language
English
Word Count
11,000 words, Guess
Page Count
44 pages
Identifiers
- OCLC Control Number60531323
- Open LibraryOL17626638M
Classifications
- LCCHD5701
Description
"This paper provides evidence for the existence of a wage curve--a micro-econometric association between the level of pay and the local unemployment rate--in modern U.S. data. Consistent with recent evidence from more than 40 other countries, the wage curve in the United States has a long-run elasticity of approximately -0.1. In line with the paper's theoretical framework: (i) wages are higher in states with more generous unemployment benefits, (ii) the perceived probability of job-finding is lower in states with higher unemployment, and (iii) employees are less happy in states that have higher unemployment. We conclude that it is reasonable to view the wage curve as an empirical law of economics"--Forschungsinstitut zur Zukunft der Arbeit web site.
Subjects
Links
Other Editions
- The wage curve reloaded
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