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The wage dynamics in Spain: evidence from individual data

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  • Victor Montuenga
  • Inmaculada Garcia

Abstract

In this paper we test the hypothesis of a wage curve against a Phillips curve for Spain within a framework which allos for these both and more general alternatives. To this end, we use data from the European Community Household Panel, which provides micro-information for the period 1994-2001. The results indicate that a partial wage adjustment is at work, as in other European countries, and that the long-run elasticiy of wages to unemployment is close to the 'empirical law of economics' of -0.1

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  • Victor Montuenga & Inmaculada Garcia, 2011. "The wage dynamics in Spain: evidence from individual data," ERSA conference papers ersa11p585, European Regional Science Association.
    • Handle: RePEc:wiw:wiwrsa:ersa11p585
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