@misc{12519,
title = {Evolving Wage Cyclicality in Latin America},
author = {Gambetti, Luca and Messina, Julián},
year = {2016},
doi = {10.18235/0011754},
abstract = {This paper examines the evolution of the cyclicality of real wages and employment in four Latin American economies (Brazil, Chile, Colombia and Mexico) during the period 1980-2010.  Wages are highly pro-cyclical during the 1980s and early 1990s, a period characterized by high inflation. As inflation declined wages became less pro-cyclical, a feature that is consistent with emerging downward wage rigidities in a low-inflation environment.  Compositional effects associated with changes in labor participation along the business cycle appear to matter less for estimates of wage cyclicality than in developed economies.},
url = {https://doi.org/10.18235/0011754}
}