Zanetti, Attilio - In: Swiss Journal of Economics and Statistics (SJES) 143 (2007) I, pp. 67-92
We construct a quarterly time series for nominal hourly wages and unit labour costs from 1975 onwards and investigate … the empirical link between wages and CPI inflation in order to identify causality effects and assess the relevance of … wages as an indicator for short-run price changes. We find evidence that prices systematically influence wages whereas the …