Real wages over the business cycle: OECD evidence from the time and frequency domains

Messina, J.; Strozzi, Chiara; Turunen, J.

We study differences in the adjustment of aggregate real wages in the manufacturing sector over the business cycle across OECD countries, combining results from different data and dynamic methods. Summary measures of cyclicality show genuine cross- country heterogeneity even after controlling for the impact of data and methods. We find that more open economies and countries with stronger unions tend to have less pro-cyclical (or more counter-cyclical) wages. We also find a positive correlation between the cyclicality of real wages and employment, suggesting that policy complementarities may influence the adjustment of both quantities and prices in the labor market.

Real wages over the business cycle: OECD evidence from the time and frequency domains / Messina, J.; Strozzi, Chiara; Turunen, J.. - In: JOURNAL OF ECONOMIC DYNAMICS & CONTROL. - ISSN 0165-1889. - STAMPA. - 33(2009), pp. 1183-1200.

Data di pubblicazione:	2009
Titolo:	Real wages over the business cycle: OECD evidence from the time and frequency domains
Autore/i:	Messina, J.; Strozzi, Chiara; Turunen, J.
Autore/i UNIMORE:	MESSINA J. STROZZI, Chiara TURUNEN J. mostra contributor esterni nascondi contributor esterni
Rivista:	JOURNAL OF ECONOMIC DYNAMICS & CONTROL
Volume:	33
Pagina iniziale:	1183
Pagina finale:	1200
Codice identificativo ISI:	WOS:000266211500001
Codice identificativo Scopus:	2-s2.0-64749115025
Citazione:	Real wages over the business cycle: OECD evidence from the time and frequency domains / Messina, J.; Strozzi, Chiara; Turunen, J.. - In: JOURNAL OF ECONOMIC DYNAMICS & CONTROL. - ISSN 0165-1889. - STAMPA. - 33(2009), pp. 1183-1200.
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