Social and Behavioral Sciences Commons^™

Group Wage Curves, Timothy J. Bartik

Upjohn Institute Working Papers

Using panel data on U.S. MSAs, this paper estimates how a typical MSA's wages of different demographic groups, and prices, are affected by overall MSA unemployment, the distribution of unemployment among different groups, and national prices and wages. MSA unemployment has strong effects on MSA wages and prices, but the distribution of unemployment among different groups has weak effects on wages and prices. Using these estimates, simulations show that targeting high-unemployment groups for unemployment reductions will not reduce wage or price inflation pressures. The estimates also show that the effects of MSA unemployment on prices and disadvantaged groups' wages are …

Time-Variant Institutions: Implications For European Unemployment, Nathaniel Stankard

Honors Papers

The upward trend of European unemployment begs many questions, the most basic of which is why unemployment continues to climb after twenty-five years. Adverse shocks, rigid labor market institutions, and their interaction are used to explain this persistence and the differences in individual country experiences.

While these models do indeed answer both questions to some extent, they assume that institutions predate the rise in unemployment, often treating them as static. By compiling extant data series and constructing my own, I find that this assumption is weak, and that the evolution of institutions is far from static.

I create and estimate …

The Phillips Curve In The 1990s, Hayden Smith

University Avenue Undergraduate Journal of Economics

This paper will explore whether or not the Phillips curve relationship exists for the 1990s. I will attempt to estimate a Phillips curve for the past decade using data for the United States. In section two, I will explain the theory behind the Phillips curve and how the theory has evolved. In section three, I will present a literature review discussing previous research and results. Section four will present my empirical model and data. In section 5, I will present my results and discuss econometric problems such as serial correlation that may lead to biased estimates. In section six I …