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Table 7 Wage Phillips curve in Italy: individual estimates; fixed-term workers (p values in brackets)

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

 

OLS

OLS

GMM

Δw t − 1

 

−0.048

0.260

  

(0.000)***

(0.000)***

U t

−0.088

−0.067

−0.014

 

(0.000)***

(0.000)***

(0.858)

U t  * D post2008

0.008

−0.058

−0.304

 

(0.560)

(0.001)***

(0.000)***

E t Δp t + 1

 

0.005

0.009

  

(0.000)***

(0.000)***

Year dummies

Yes

No

No

Individual fixed effects

Yes

Yes

Yes

Observations

791,638

419,922

419,922

Number of workers

349,803

192,702

192,702

  1. Robust p values in parentheses. Since fixed-term workers can have more than one job spell within a year, the dependent variable is the percentage difference between the average daily wages in two consecutive years
  2. Significant at *10%, **5% and ***1%
  3. Dependent variable: percentage change in the average daily wage
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