New evidence on the dynamic wage curve for Western Germany: 1980–2004 |
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| Authors: | Badi H. Baltagi Uwe Blien Katja Wolf |
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| Affiliation: | 1. Center for Policy Research and Department of Economics Syracuse, Syracuse University New York 13244-1020, United States;2. Department of Economics, University of Leicester, Leicester, UK;3. Institute of Employment Research, Regensburger Str. 104, D-90478 Nuremberg, Germany;4. Technical University of Kaiserslautern, Germany;1. The State Key Laboratory of Mechanical Transmission, Chongqing University, Chongqing 400030, People’s Republic of China;2. School of Mechatronics & Automotive Engineering, Chongqing Jiaotong University, Chongqing 400074, People’s Republic of China;1. Department of Economics and Center for Policy Research, Syracuse University, Syracuse, NY 13244-1020, USA;2. ETH Zurich, Switzerland;3. CEPR, Switzerland;4. CESifo, Switzerland;5. WIFO, Switzerland;1. Department of Economics and Finance, The University of Scranton, United States;2. Research Department, BBVA, Hong Kong;1. Department of Economics and Center for Policy Research, 426 Eggers Hall, Syracuse University, Syracuse, NY 13244-1020, USA;2. Department of Economics, University of Leicester, University Road, Leicester LE17 6EE, UK;3. Division of Economics, School of Humanities and Social Sciences, Nanyang Technological University, HSS-04-48, 14 Nanyang Drive, Singapore 637332, Singapore |
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| Abstract: | Blanchflower and Oswald [Blanchflower, David G. and Oswald, Andrew J., 1994a, The Wage Curve, (Cambridge, MA, MIT Press), Blanchflower, David G. and Oswald, Andrew J., 1994b, Estimating a Wage Curve for Britain 1973–90, The Economic Journal 104, 1025–1043. Eine praktische Einführung, Nürnberg] reported that they have found an ‘empirical law of economics’ — the Wage Curve. Our paper reconsiders the western German Wage Curve using disaggregated regional data and is based on almost one million employees drawn from the Federal Employment Services of Germany over the period 1980–2004. We find that the wage equation is highly autoregressive but far from unit root. The unemployment elasticity is significant but relatively small: only between ? 0.02 and ? 0.04. We also check the sensitivity of this elasticity for different population groups (young versus old, men versus women, less educated versus highly educated, German native versus foreigner), confirming that it is stronger the weaker the bargaining power of the particular group. |
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