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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