Article in Journal ()
Blanchflower D & Oswald AJ (1994) Estimating a wage curve for Britain 1973-90, Economic Journal, 104 (426), pp. 1025-1043.
Following Phillips's original work on the UK, applied research on unemployment and wages has been dominated by the analysis of highly aggregated time-series data sets. However, it has proved difficult with such methods to uncover statistically reliable models. This paper adopts a different approach. It uses microeconomic data on 175 000 British workers from 1973 to 1990 to provide evidence for the existence of a negatively sloped relationship linking the level of pay to the local rate of unemployment. The paper casts doubt on standard ideas in macroeconomics, regional economics and labour economics.
methodological development; modelling approach; unemployment; wage curve
|Authors||Blanchflower David, Oswald Andrew J|
|Publisher||Wiley on behalf of the Royal Economic Society|
Economic Journal: Volume 104, Issue 426 (SEP 1994)