Controlling for geographic dispersion when estimating the Japanese Phillips curve
By: Hiroshi Fujiki and Howard J. Wall
Contributors: Wall, Howard J.; Federal Reserve Bank of St. Louis
Series: Working paper -- 2006-057A; Working paper (Federal Reserve Bank of St. Louis : Online) -- 2006-057A.
Publisher: Federal Reserve Bank of St. Louis
Published: 2006
Place of publication: St. Louis, Mo.]
Language: eng
Format: [electronic resource] /
Description: "This paper argues that estimation of the Phillips curve for Japan should take account of the geographic dispersion of labor-market conditions.  We find evidence that the relationship between wage inflation and the unemployment rate is convex.  With such convexity, wage inflation can occur when unemployment rates across regions become more disperse, even if the aggregate unemployment rate is unchanged.  We show that controlling for the geographic dispersion of unemployment rates yields a flatter Phillips curve and a higher natural rate of unemployment"--Federal Reserve Bank of St. Louis web site.
Notes: Title from PDF file as viewed on 11/13/2006.

Includes bibliographical references.

Also available in print.

System requirements: Adobe Acrobat Reader.

Mode of access: World Wide Web.