Evolving Wage Cyclicality in Latin America

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 were highly procyclical during the 1980s and early 1990s, a period characterized by high inflation. As inflation...

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Bibliographic Details
Main Authors:	Gambeti, Luca, Messina, Julian
Format:	Journal Article
Published:	Published by Oxford University Press on behalf of the World Bank 2020
Subjects:	BAYESIAN ESTIMATION WAGE RIGIDITY INDEXATION CYCLICALITY VECTOR AUTOREGRESSION TIME VARYING COEFFICIENTS BUSINESS CYCLE
Online Access:	http://hdl.handle.net/10986/33534

id	okr-10986-33534
recordtype	oai_dc
spelling	okr-10986-335342021-05-25T10:54:42Z Evolving Wage Cyclicality in Latin America Gambeti, Luca Messina, Julian BAYESIAN ESTIMATION WAGE RIGIDITY INDEXATION CYCLICALITY VECTOR AUTOREGRESSION TIME VARYING COEFFICIENTS BUSINESS CYCLE 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 were highly procyclical during the 1980s and early 1990s, a period characterized by high inflation. As inflation declined wages became less procyclical, 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. 2020-04-03T20:19:21Z 2020-04-03T20:19:21Z 2018-10 Journal Article World Bank Economic Review 1564-698X http://hdl.handle.net/10986/33534 CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Published by Oxford University Press on behalf of the World Bank Publications & Research Publications & Research :: Journal Article Latin America & Caribbean Latin America Brazil Chile Colombia Mexico
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
topic	BAYESIAN ESTIMATION WAGE RIGIDITY INDEXATION CYCLICALITY VECTOR AUTOREGRESSION TIME VARYING COEFFICIENTS BUSINESS CYCLE
spellingShingle	BAYESIAN ESTIMATION WAGE RIGIDITY INDEXATION CYCLICALITY VECTOR AUTOREGRESSION TIME VARYING COEFFICIENTS BUSINESS CYCLE Gambeti, Luca Messina, Julian Evolving Wage Cyclicality in Latin America
geographic_facet	Latin America & Caribbean Latin America Brazil Chile Colombia Mexico
description	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 were highly procyclical during the 1980s and early 1990s, a period characterized by high inflation. As inflation declined wages became less procyclical, 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.
format	Journal Article
author	Gambeti, Luca Messina, Julian
author_facet	Gambeti, Luca Messina, Julian
author_sort	Gambeti, Luca
title	Evolving Wage Cyclicality in Latin America
title_short	Evolving Wage Cyclicality in Latin America
title_full	Evolving Wage Cyclicality in Latin America
title_fullStr	Evolving Wage Cyclicality in Latin America
title_full_unstemmed	Evolving Wage Cyclicality in Latin America
title_sort	evolving wage cyclicality in latin america
publisher	Published by Oxford University Press on behalf of the World Bank
publishDate	2020
url	http://hdl.handle.net/10986/33534
_version_	1764478975296405504

Evolving Wage Cyclicality in Latin America

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