THE CYCLICAL BEHAVIOR OF REAL WAGES - EVIDENCE FROM POSTWAR JAPANESE DATA

Authors
MOOSA IA
Citation
Ia. Moosa, THE CYCLICAL BEHAVIOR OF REAL WAGES - EVIDENCE FROM POSTWAR JAPANESE DATA, Japan and the world economy, 10(1), 1998, pp. 85-90
Citations number
19
Categorie Soggetti
Economics
Journal title
Japan and the world economy → ACNP
ISSN journal
09221425
Volume
10
Issue
1
Year of publication
1998
Pages
85 - 90
Database
ISI
SICI code
0922-1425(1998)10:1<85:TCBORW>2.0.ZU;2-Z
Abstract
This paper examines the behavior of real wages over the business cycle using Japanese data covering the period 1948-1986. The cyclical compo nents of prices, real wages and three cyclical variables are extracted from the observed time series. A model relating these components is e stimated, producing results which indicate that prices are countercycl ical while real wages are procyclical. (C) 1998 Elsevier Science B.V.