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The wage-local unemployment relationship in a highly regulated labour market: Greece
[journal article]
Abstract Using data obtained from 80,000 employees, this paper examines the relationship between individual wages and regional unemployment in Greece. The findings of this study highlight the dynamics of the local labour markets in a case, such as Greece, where the OECD claims that wage flexibility is limite... view more
Using data obtained from 80,000 employees, this paper examines the relationship between individual wages and regional unemployment in Greece. The findings of this study highlight the dynamics of the local labour markets in a case, such as Greece, where the OECD claims that wage flexibility is limited. This study does not find evidence that wages in Greece are rigid but finds a wage curve elasticity of close to -0.1, which corresponds to evidence from many counties. Interestingly, graduates are found to be the most responsive group of workers to the behaviour of local labour markets. The high levels of wage flexibility may be explained by very low levels of geographic mobility.... view less
Classification
Area Development Planning, Regional Research
Labor Market Research
Free Keywords
Wage curve; Philips curve; Local labour markets; Fixed-effects; Greece
Document language
English
Publication Year
2010
Page/Pages
p. 389-400
Journal
Regional Studies, 44 (2010) 4
DOI
https://doi.org/10.1080/00343400802251486
Status
Postprint; peer reviewed
Licence
PEER Licence Agreement (applicable only to documents from PEER project)