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aggregate supplies annual data annual inflation ANNUAL REAL WAGES annual wages assumption ceteris paribus change in real change in unemployment change in wages changes in inflation changes in nominal Chile Chilean economy Coef Coeymans collinearity Consumer Price Index Cortazar current and lagged current inflation dynamic simulations econometric effect empirical analysis equa equilibrium estimated explained explanatory variables flation forward looking contracts free segments group of workers homogeneity imply income policy inflation rates instrumental variable kind of workers labor market conditions labor productivity lagged change levels long run mining real wage natural rate Official Consumer Price Official Readjustment path polynomial of inflation protected and free quarterly data rate of inflation rate of unemployment readjustment of wages sectoral growth sectoral Phillips curve sectoral real wages sectoral wage equations sectors included services real wages short run significant three sectors tion unem unemployment rate unemployment variable wage contracts wage function wage negotiations workers with forward