PEETERS, H.M.M.; DEN REIJER, A.H.J. - In: Applied Econometrics and International Development 8 (2008) 1, pp. 59-74
We derive a non-linear wage equation from a wage bargaining model and estimate an error correction model for Germany, Spain, France, the Netherlands and the US. Based on the estimated parameters, we derive time-varying elasticities of wages with respect to its determinants labour productivity,...