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

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