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Robustness

1 Aug 2021 RDP 2021-09
James Bishop and Emma Greenland
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
James Bishop and Emma Greenland
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

Is the Phillips Curve Still a Curve? Evidence from the Regions

31 Aug 2021 RDP 2021-09
James Bishop and Emma Greenland
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

Appendix A: RBA Aggregate Wage Phillips Curve Specification, Coefficients and Implied Slope

1 Aug 2021 RDP 2021-09
James Bishop and Emma Greenland
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
James Bishop and Emma Greenland
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
James Bishop and Emma Greenland
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
James Bishop and Emma Greenland
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