TY  - RPRT
        AU  - Messina, Julián
AU  - Strozzi, Chiara
AU  - Turunen, Jarkko
        TI  - Real Wages over the Business Cycle: OECD Evidence from the Time and Frequency Domains
        PY  - 2008/Dec/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 3884
        UR  - https://www.iza.org/publications/dp3884
        AB  - We study differences in the adjustment of aggregate real wages in the manufacturing sector over the business cycle across OECD countries, combining results from different data and dynamic methods. Summary measures of cyclicality show genuine cross-country heterogeneity even after controlling for the impact of data and methods. We find that more open economies and countries with stronger unions tend to have less pro-cyclical (or more counter-cyclical) wages. We also find a positive correlation between the cyclicality of real wages and employment, suggesting that policy complementarities may influence the adjustment of both quantities and prices in the labour market.
        KW  - labour market institutions
KW  - real wages
KW  - business cycle
KW  - dynamic correlation
        ER  -