文章基本信息

标题：Unemployment rate and wage growth in Brazil: evidence from a Markov-switching model
本地全文：下载
作者：Wellington Charles Lacerda Nobrega ; Cássio da Nóbrega Besarria ; Felipe Araújo de Oliveira 等
期刊名称：Economia Aplicada
印刷版ISSN：1413-8050
电子版ISSN：1980-5330
出版年度：2020
卷号：24
期号：2
语种：Portuguese
出版社：Economia Aplicada
摘要：This paper has the purpose to investigate the relationship between unemployment rate and wage growth for the Brazilian economy from 2000 to 2016, by means of a Markov-switching regression model. The empirical approach is based on the New-Keynesian Phillips Curve developed by Galí (2011). The estimation results suggest the existence of two well defined regimes, one characterized by the non-validation of the Phillips Curve, while in the other the trade-off between unemployment and wage inflation is validated, with the economic cycle being a key factor in regime switching.