Meta-Analysis on Microeconomic Wage Flexibility (Wage Curve)
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Meta-Analysis on Microeconomic Wage Flexibility (Wage Curve)
Babecký, Jan | Ramos, Raúl | Sanromá, Esteban
Sozialer Fortschritt, Vol. 57 (2008), Iss. 10–11 : pp. 273–279
4 Citations (CrossRef)
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Jan Babecký, Czech National Bank, Na prikope 28, 115 03 Prague-1, Czech Republic.
Raúl Ramos, Grup d'Anàlisi Quantitativa Regional (AQRIREA), Departament d'Econometria, Estadística i Economia Espanyola, Facultat d'Economia i Empresa, Universitat de Barcelona, Avda. Diagonal 690, 08034 Barcelona, Spain.
Esteban Sanromám, Departament d'Economia Política i Hisenda Pública, Facultat d'Economia i Empresa, Universitat de Barcelona, Avda. Diagonal 690, 08034 Barcelona, Spain.
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Abstract
Since the publication of the book by Blanchflower and Oswald in 1994, a growing literature has focused on the analysis of the wage curve, an empirical relationship between individual wages and regional unemployment. The most relevant conclusion of these studies is that there is a negative relationship between the two variables with a common elasticity across countries, which is close to -0.10. In this paper, we apply descriptive meta-analytical techniques in order to provide a quantitative summary of the available evidence regarding the wage curve. The obtained evidence casts some doubts on the stability of microeconomic wage flexibility as significant differences across countries, time periods and groups of workers are found.