Research Article
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 |
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*Significant at 1% critical value.
**Significant at 5% critical value.
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