Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/146493 
Erscheinungsjahr: 
2016
Schriftenreihe/Nr.: 
IDB Working Paper Series No. IDB-WP-715
Verlag: 
Inter-American Development Bank (IDB), Washington, DC
Zusammenfassung: 
This paper examines the evolution of the cyclicality of real wages and employment in four Latin American economies (Brazil, Chile, Colombia and Mexico) during the period 1980-2010. Wages are highly pro-cyclical during the 1980s and early 1990s, a period characterized by high inflation. As inflation declined wages became less pro-cyclical, a feature that is consistent with emerging downward wage rigidities in a low-inflation environment. Compositional effects associated with changes in labor participation along the business cycle appear to matter less for estimates of wage cyclicality than in developed economies.
Schlagwörter: 
Downward wage rigidity
Indexation
Real wage cyclicality
Vector autoregression
Time-varying coefficients
Bayesian estimation
JEL: 
E24
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Dokumentart: 
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