Has Globalization Changed the Phillips Curve?
Has Globalization Changed the Phillips Curve? - Industry-Level Evidence on the Effect of the Unemployment Gap on Wages (Paperback)
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The author estimates industry-specific Phillips curves for Denmark to test whether the finding of a weaker link between wages and the unemployment gap is due to changes within industries or should instead be ascribed to changes in the relative sizes of industries. He finds that industries with an easier access to international outsourcing show weaker wage responses to the unemployment gap, whereas access to import of foreign final goods and foreign labour seem to have no effect on the slope of the Phillips curve.
