Emprego e salários reais: uma análise macroeconômica de desequilíbrio para o Chile e o Brasil

Abstract

The purpose of this work is to review the relation between real wages and employment in semi-industrialized economies under different macroeconomic regimes. The formal analysis uses a model that distinguishes a keynesian regime with insufficiency of effective demand, an external constraint regime characterized by foreign reserves scarcily, and a classical regime where physical capital is binding. The model is empirically evaluated with parameters' from both chilean and brazilian economies in order to examine the macroeconomic impact of wage policies crud an employment oriented fiscal policy. The model is also used to estimate employment-real wage elasticities under each type of regime in both economies.