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International wage curve

By David G. Blanchflower and A. Oswald

Abstract

The paper provides international 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 found 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 as one possible interpretation of the data

Topics: HD Industries. Land use. Labor
Publisher: Centre for Economic Performance, London School of Economics and Political Science
Year: 1993
OAI identifier: oai:eprints.lse.ac.uk:21001
Provided by: LSE Research Online
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