Vol. 2 No. 3 (2006)

Artículos

An Exploration of the Association Between the Growth Rate of Real Wages and the Unemployment Rate in Mexico, 1895–2004

Published 2006-07-03

  • Carlos Guerrero de Lizardi
    • ,
  • Paulina Osorio Pérez
    • ,
  • Arianna Tiol Carrillo

Carlos Guerrero de Lizardi
Instituto Tecnológico de Estudios Superiores de Monterrey

Paulina Osorio Pérez
Instituto Tecnológico de Estudios Superiores de Monterrey

Arianna Tiol Carrillo
Instituto Tecnológico de Estudios Superiores de Monterrey

Abstract

Our purposes are three. As a theoretical starting point we reply the seminal papers that founded the literature we are dealing with: Phillips (1958) and Samuelson and Solow (1960), and we review two “unknown” preceding studies: Fisher (1926) and Sultan (1957). After that, we comprehensively investigate the sources of statistical information about employment, and finally, we estimate the Phillips curve for Mexico during the twentieth century. Our main result shows that there is an inverse relation between real wage rate and unemployment rate in Mexico during the analyzed period.

Keywords

Real wage, unemployment rate, regression analysis

PDF (Spanish)

References

  1. Akerlof, G.A. (2001), “Behavioral macroeconomics and macroeconomic behavior”, Nobel Prize Lecture.
  2. Amid-Hozour, E., D. T. Dick y R. L. Lucier (1971), “Sultan Schedule and Phillips curve: an historical note”, Economica, vol. 38, núm. 151, pp. 319-20.
  3. Anderson, R. G. y W. G. Dewald (1994), “Replication and scientific standards in applied economics: a decade after the Journal of Money, Credit and Banking project”, Federal Reserve Bank of St. Louis Review, vol. 76, núm. 6, pp. 79-83.
  4. Banco de México, Informe Anual, varios años.
  5. Berndt, E. R. (1991), The Practice of Econometrics: Classic and Contemporary, Addison-Wesley Publishing Company.
  6. Blyth, C. A. (1978), “Biographical Note”, Stability and Inflation: a Volume of Essays to Honour the Memory of A. W. H. Phillips, John Wiley & Sons.
  7. Boulding, K. (1951), Impact of the Union, compilado por David McCord Wright, Harcourt Brace and Co., citado por Sultan (1957).
  8. Centro de Estudios Económicos y Demográficos (1981), Dinámica de la Población en México, segunda edición, El Colegio de México.
  9. Donner, A. y J. F. McCollum (1972), “The Phillips curve: an historical note”, Economica, vol. 39, núm. 155, pp. 323-4.
  10. Rodríguez, A. (2004), “Dinámica macroeconómica y la curva de Phillips bajo diversos supuestos sobre el mecanismo de ajuste salarial”, Estudios Económicos, vol. 19, núm. 2, pp. 181-210.
  11. Samuelson, P. A. y R. M. Solow (1960), “Problem of achieving and maintaining a stable price level: analytical aspects of anti-Inflation policy”, The American Economic Review, vol. 50, núm. 2, pp. 177-94.
  12. Sultan, P. (1957), Labor Economics, Henry Holt and Company.
  13. Vela, O. (2004), “Sobre el resurgimiento de la curva de Phillips y la historia inflacionaria en México”, Gaceta de Economía, año 9, núm. 18, pp. 39-88.
  14. Wulwick, N. J. (1989), “Phillips’ Approximate regression”, Oxford Economic Papers, vol. 41, núm. 1, pp. 170-88.
  15. Wulwick, N. J. (1996), “Two econometric replications: the historic Phillips and Lipsey-Phillips curves”, The History of Political Economy, vol. 28, núm. 3.

Most read articles by the same author(s)