Phillips and Wage Curves: Empirical Evidence from Bosnia and Herzegovina

Table 2

Regression results for the wage curve.

	Linear wage curve (nominal average net pay)
	BiH	FBiH	RS	BD
Constant (-statistics)	7.45* (94.97)	4.29* (18.05)	2.04* (19.67)	6.22* (260.44)
ln(unemployment rate) (-statistics)	0.91* (9.86)	−2.98* (−9.75)	0.15 (1.47)	−0.51* (−14.56)
^2 (%)	66.50	55.55	16.39	80.85
-statistics	97.26	95.00	2.16	97.07
Number of observations	51	78	13	25
	Linear wage curve (inflation adjusted average net pay)
	BiH	FBiH	RS	BD
Constant (-statistics)	−7.82** (−2.23)	5.13* (36.15)	6.76* (8.78)	6.35* (408.51)
ln(unemployment rate) (-statistics)	−33.39* (−4.08)	−1.72* (−9.43)	0.34 (0.45)	−0.16* (−8.18)
ln(unemployment rate squared) (-statistics)	−19.44* (−4.08)	—	—	—
^2 (%)	25.92	53.94	1.84	55.83
-statistics	8.40	89.00	0.21	29.08
Number of observations	51	78	13	25

*Significant at 1% critical value.
**Significant at 5% critical value.