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The Slope of the U.S. Nominal Treasury Yield Curve Unemployment and Stability of Wage Determination: United States versus New York State

Jonathan Ohm et al.

New York Economic Review2010article
ABDC C
Weight
0.26

What the paper says

We find the Phillips-type model performs well in explaining wage adjustment for US non-farm business, US manufacturing, and NY manufacturing sector, showing a typical adjustment to price inflation expectation and labor market tightness. While the basic wage model shows evidence of a structural shift for the post-1991 period, this is not evident in the adjusted models for both US non-farm business and NY manufacturing, implying that the observed structural shift for the post-1991 period is likely to be the result of model mis-, or under-specification. The effect of the fraction of unemployment due to permanent job loss on wage inflation appears to be manufacturing-specific, while a smaller adjustment to price inflation expectation appears to be state-specific. On the other hand, the significant effect of the percent of adults unemployed appears to be a national phenomenon.

Cite this paper

@article{jonathan2010,
  title        = {{The Slope of the U.S. Nominal Treasury Yield Curve Unemployment and Stability of Wage Determination: United States versus New York State}},
  author       = {Jonathan Ohm et al.},
  journal      = {New York Economic Review},
  year         = {2010},
}

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The Slope of the U.S. Nominal Treasury Yield Curve Unemployment and Stability of Wage Determination: United States versus New York State

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Evidence weight

0.26

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.00 × 0.4 = 0.00
M · momentum0.20 × 0.15 = 0.03
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.