Baltagi, Badi H.; Blien, Uwe; Wolf, Katja - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2008
In 1994, Blanchflower and Oswald reported that they have found an empirical law of economics the Wage Curve. According to their empirical results, the elasticity of wages with respect to regional unemployment is -0.1. This holds especially for the Anglo-Saxon countries...
