Abstract

AIXALA, José  and  PELET, Carmen. Real wages, unemployment and productivity in Spain. Cuad. Econ. [online]. 2014, vol.33, n.63, pp.447-468. ISSN 0121-4772.  https://doi.org/10.15446/cuad.econ.v33n63.45341.

This paper studies the relationship between real wages and their determinants in the Spanish economy during the period 1980-2000 by means of the time series methodology. Our aim is to analyze to what extent the evolution of wages is influenced by the disequilibrium in the labour market, measured by the unemployment rate, as well as by bargaining variables such as productivity. The results show there is no effect of unemployment on the evolution of real wages, which raise according to the increases in productivity, with a value of the elasticity below one.

Keywords : Real wages; unemployment; productivity; institutional framework; time series.

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