| Revista: | Journal of applied economics |
| Base de datos: | CLASE |
| Número de sistema: | 000399383 |
| ISSN: | 1667-6726 |
| Autors: | Altavilla, Carlo1 Vinci, Concetto Paolo2 |
| Institucions: | 1Universita degli Studi di Napoli, Nápoles, Campania. Italia 2Universita degli Studi di Salerno, Salerno. Italia |
| Any: | 2011 |
| Període: | May |
| Volum: | 14 |
| Número: | 1 |
| Paginació: | 81-99 |
| País: | Argentina |
| Idioma: | Inglés |
| Tipo de documento: | Artículo |
| Enfoque: | Aplicado |
| Resumen en inglés | This paper aims at analysing the dynamic properties of real wages over the business cycle. We apply a Bayesian vector autoregressive (BVAR) model and analyse the possible asymmetric behaviour of real wages in response to different macroeconomic shocks. Finally, we use the NBER business cycle periodisation to evaluate how real wages interact with the different shocks during contractions and booms. The results indicate that real wages cyclicality substantially depends on the driving forces of business cycle fluctuations. Different time periods are dominated by different types of shocks. When the business cycle is mainly driven by supply-side shocks real wages present a pro-cyclical behaviour. On the contrary, when the business cycle is driven by aggregate demand shocks real wages move counter-cyclically |
| Disciplines | Economía |
| Paraules clau: | Teorías económicas, Econometría, Condiciones económicas, Sistemas económicos, Ciclo económico, Salario real, Empresas |
| Text complet: | Texto completo (Ver PDF) |
