This paper, which follows in an London School of Economics tradition begun by A. W. Phillips and J. D. Sargan, examines the role of unemployment in shaping pay. In contrast to most of the literature, it (1) uses microeconometric data on individuals and workplaces, (2) examines a variety of data sets as a check on the robustness of results, and (3) studies the effects of unemployment on the real wage level (not on the rate of change of pay or prices). Evidence is found--on British and U.S. data--of a wage curve. The curve has a negative gradient at low levels of unemployment, but becomes horizontal at relatively high levels of unemployment. Copyright 1990 by The editors of the Scandinavian Journal of Economics.
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Paper
Blanchflower, D. & Oswald, A., 1989.
"The Wage Curve,"
Papers
340, London School of Economics - Centre for Labour Economics.
David G. Blanchflower & Andrew J. Oswald, 1990.
"The Wage Curve,"
NBER Working Papers
3181, National Bureau of Economic Research, Inc.
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Book
David G. Blanchflower & Andrew J. Oswald, 1995.
"The Wage Curve,"
MIT Press Books,
The MIT Press,
edition 1, volume 1, number 026202375x, January.
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Layard, Richard & Nickell, Stephen, 1986.
"Unemployment in Britain,"
Economica,
London School of Economics and Political Science, vol. 53(210(S)), pages S121-69, Supplemen.
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Gilbert, C L, 1976.
"The Original Phillips Curve Estimates,"
Economica,
London School of Economics and Political Science, vol. 43(169), pages 51-57, February.
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Laidler, David E W & Parkin, J Michael, 1975.
"Inflation: A Survey,"
Economic Journal,
Royal Economic Society, vol. 85(340), pages 741-809, December.
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Wadhwani, Sushil B, 1985.
"Wage Inflation in the United Kingdom,"
Economica,
London School of Economics and Political Science, vol. 52(206), pages 195-207, May.
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Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.) This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page.