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Long-run relations between private and public sector wages in Sweden
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.ORCID iD: 0000-0001-8826-0410
1994 (English)In: Empirical Economics, ISSN 0377-7332, E-ISSN 1435-8921, Vol. 19, no 3, 343-360 p.Article in journal (Refereed) Published
Abstract [en]

Using a maximum likelihood cointegration approach we find two long-run relationships between central government, local government, and private sector wages in Sweden. This means that there is one common trend for the three sectoral wages. Private sector wages are weakly exogenous for the estimation of the long-run relationships. This suggests that the private sector is the wage leader. Testing linear restrictions on the estimated cointegrating space, we reject stationarity for the three relative wages using likelihood ratio-tests. The hypotheses of homogeneity for the two cointegrating vectors, i.e., that wages do not diverge in the long run, is also rejected.

Place, publisher, year, edition, pages
1994. Vol. 19, no 3, 343-360 p.
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URN: urn:nbn:se:uu:diva-68874DOI: 10.1007/BF01205942OAI: oai:DiVA.org:uu-68874DiVA: diva2:96785
Available from: 2005-03-13 Created: 2005-03-13 Last updated: 2013-07-09

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Publisher's full texthttp://econpapers.repec.org/article/sprempeco/v_3a19_3ay_3a1994_3ai_3a3_3ap_3a343-60.htm

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