A vector autoregression model with time-varying coefficients is used to examine the evolution of wage cyclicality in four Latin American economies: Brazil, Chile, Colombia and Mexico, during the period 1980-2010. Wages are highly pro-cyclical in all countries up to the mid-1990s except in Chile. Wage cyclicality declines thereafter, especially in Brazil and Colombia. This decline in wage cyclicality is in accordance with declining real-wage flexibility...
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INFORMACIÓN
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2014/07/01
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Documento de trabajo sobre investigaciones relativas a políticas
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WPS6978
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1
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1
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2014/07/01
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Disclosed
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Evolving wage cyclicality in Latin America
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real wage