@TechReport{iza:izadps:dp10657,
            	author={Gambetti, Luca and Messina, Julián},
            	title={Evolving Wage Cyclicality in Latin America},
            	year={2017},
	month={Mar},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={10657},
            	url={https://www.iza.org/publications/dp10657},
	abstract={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 are highly pro-cyclical during the 1980s and early 1990s, a period characterized by high inflation. As inflation declined wages became less pro-cyclical, 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. },
	keywords={downward wage rigidity;indexation;real wage cyclicality;vector autoregression;time varying coefficients;Bayesian estimation},
            }