Abstract
This paper examines the relationship between labour market conditions and wage dynamics by exploiting a unique dataset of more than one million online job vacancies. We find a weak trade-off between aggregate wage inflation and unemployment. This link becomes more evident when the wage inflation is disaggregated at the sectoral and occupational level. The examination, using vacancy-level data, shows a negative correlation between offered wage and unemployment. The degree of wage elasticity, however, is different across regions and skill segments. Our findings suggest the importance of micro-level data's unique dimensions in examining the wage – unemployment relationship.
Original language | English |
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Journal | Journal of Comparative Economics |
Early online date | 22 May 2021 |
DOIs | |
Publication status | E-pub ahead of print - 22 May 2021 |
Keywords
- Phillips curve
- heterogeneity
- micro data
- online vacancies
- wage curve