El Ajuste al Equilibrio a Largo Plazo de los Salarios en España

  • Jose Aixala
  • Carmen Pelet
Keywords: Wages, unemployment, productivity, institutional framework, time series.

Abstract

This paper provides empirical evidence about the relationship between wages and their determinants in the Spanish economy from a macroeconomic perspective, as well as about the adjustment speed back to long run equilibrium, estimating an error correction mechanism by non-linear methods. The results reveal that the unemployment rate and the bargaining variables have no effect on the evolution of wages. The variable that explains the evolution of wages in the long term is prices, with wages showing slightly inflationary behavior. In the short term, wages are explained by their past values, reflecting a nominal inertia
Published
2013-04-23
How to Cite
Aixala, J., & Pelet, C. (2013). El Ajuste al Equilibrio a Largo Plazo de los Salarios en España. Economic Analysis Review, 28(1), 3-24. Retrieved from https://www.rae-ear.org/index.php/rae/article/view/rae-28-1
Section
Articles