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Robustness
1 Aug 2021
RDP
2021-09
The WPI (excluding bonuses) is available at the state and territory level from 1997 onward, but not at the sub-state level. ... Our estimates suggest that the Phillips curve is slightly flatter using the WPI than using average employee income (–0.20
https://www.rba.gov.au/publications/rdp/2021/2021-09/robustness.html
Data
1 Aug 2021
RDP
2021-09
This contrasts with narrower measures of wages growth, such as WPI growth, which is limited to wage payments. ... The WPI is published both excluding and including bonuses, although only the excluding bonuses series is available at the state level.
https://www.rba.gov.au/publications/rdp/2021/2021-09/data.html
Appendix A: RBA Aggregate Wage Phillips Curve Specification, Coefficients and Implied Slope
1 Aug 2021
RDP
2021-09
4. t. where:. %Δ. W. P. I. t. Quarterly growth in the wage price index (WPI) (hourly rates excluding bonuses); seasonally adjusted. ... Dependent variable = WPI excluding bonuses. Constant. 0.240. (0.243). %Δ. W.
https://www.rba.gov.au/publications/rdp/2021/2021-09/appendix-a.html
Is the Phillips Curve Still a Curve? Evidence from the Regions
31 Aug 2021
RDP
2021-09
in the case of wages growth due to the shorter history for the WPI). ... This contrasts with narrower measures of wages growth, such as WPI growth, which is limited to wage payments.
https://www.rba.gov.au/publications/rdp/2021/2021-09/full.html
Is the Phillips Curve Still a Curve? Evidence from the Regions
31 Aug 2021
RDP
2021-09
Figure 2 is based on job-level WPI data. Data accessed during a secondment to the ABS – not available for release.
https://www.rba.gov.au/publications/rdp/2021/2021-09/read-me.html
Is the Phillips Curve Still a Curve?
1 Aug 2021
RDP
2021-09
1998 in the case of wages growth due to the shorter history for the WPI). ... The RBA's preferred measure of wages growth – the WPI – has only been compiled by the ABS since 1998.
https://www.rba.gov.au/publications/rdp/2021/2021-09/is-the-phillips-curve-still-a-curve.html
Background on the Phillips Curve and the RBA's Modelling Approach
1 Aug 2021
RDP
2021-09
A histogram of job-level annual wages growth outcomes from the wage price index (WPI) shows clear evidence of a scarcity of wage cuts and an abundance of wage freezes, consistent
https://www.rba.gov.au/publications/rdp/2021/2021-09/background-on-the-phillips-curve-and-the-rbas-modelling-approach.html