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The Dynamics Of Labour'S Income Shares And The Wage Curve–Phillips Curve Controversy

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  • Jakob B. Madsen

Abstract

Based on a re‐parameterised Blanchflower–Oswald model this paper uses long macro‐data from the OECD countries to discriminate between the Philips curve and the wage curve and examines whether there are any differences in wage dynamics between Europe and the United States. The evidence gives support for the Phillips curve and shows that wage dynamics are no different between the United States and Europe.

Suggested Citation

  • Jakob B. Madsen, 2009. "The Dynamics Of Labour'S Income Shares And The Wage Curve–Phillips Curve Controversy," Scottish Journal of Political Economy, Scottish Economic Society, vol. 56(1), pages 45-72, February.
    • Handle: RePEc:bla:scotjp:v:56:y:2009:i:1:p:45-72
    DOI: 10.1111/j.1467-9485.2009.00472.x
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