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Table 6 Wage Phillips curve in Italy: individual estimates; job movers (p values in brackets)

From: Has the wage Phillips curve changed in the euro area?

  OLS OLS GMM
Δw t − 1 −0.218 −0.212 0.065
  (0.000)*** (0.000)*** (0.000)***
U t 0.019 −0.412 −0.152
  (0.017)** (0.000)*** (0.000)***
U t  * D post2008 −0.012 −0.087 −0.073
  (0.042)** (0.000)*** (0.000)***
E t Δp t + 1   0.009 0.010
   (0.000)*** (0.000)***
Year dummies Yes No No
Individual fixed effects Yes Yes Yes
Observations 2,525,539 2,525,539 2,116,452
Number of workers 610,333 610,333 563,192
  1. Robust p values in parentheses
  2. Significant at *10%, **5% and ***1%
  3. Dependent variable: percentage change in the daily wage