Table 5 Wage Phillips curve in Italy: individual estimates; job stayers—blue and white collars (p values in brackets)

Δw _t − 1

0.111

0.065

(0.000)***

(0.000)***

U _t

−0.15

−0.243

(0.000)***

(0.000)***

U _t  * D _post2008

−0.121

−0.003

(0.000)***

(0.767)

E _t Δp _t + 1

0.009

0.008

(0.000)***

(0.000)***

Year dummies

Yes

No

Individual fixed effects

Yes

Yes

Observations

101,185

62,486

Number of workers

687,536

496,136