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dc.contributor.authorBlanchflower, David G.en_US
dc.contributor.authorOswald, Andrew J.en_US
dc.date.accessioned2005-10-10en_US
dc.date.accessioned2010-07-07T09:11:31Z-
dc.date.available2010-07-07T09:11:31Z-
dc.date.issued2005en_US
dc.identifier.urihttp://hdl.handle.net/10419/33400-
dc.description.abstractThis 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.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesIZA Discussion Papers 1665en_US
dc.subject.jelJ3en_US
dc.subject.jelE2en_US
dc.subject.ddc330en_US
dc.subject.keywordwagesen_US
dc.subject.keywordunemploymenten_US
dc.subject.keywordwage curvesen_US
dc.subject.stwLohnen_US
dc.subject.stwArbeitslosigkeiten_US
dc.subject.stwTheorieen_US
dc.subject.stwWelten_US
dc.titleThe wage curve reloadeden_US
dc.typeWorking Paperen_US
dc.identifier.ppn500853894en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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