IDEAS home Printed from https://ideas.repec.org/a/ecj/econjl/v97y1987i385p157-76.html
   My bibliography  Save this article

The Aggregate Labour Market: An Empirical Investigation into Market-Clearing for the UK

Author

Listed:
  • Andrews, Martyn J

Abstract

A two-equation model of the aggregate labor market is presented as part of a larger market- clearing macroeconomic framework, which is then estimated by a suitable subsystem estimator using annual data for the U.K., 1948- 1979. Taken on their own theory-consistent estimates of both labor supply and labor demand are obtained. The maintained hypothesis that the market clears cannot be tested againsta more general structural model within the framework presented; however, a test of the model against the data generation process suggests that the maintained hypothesis is untenable after 1966, which is confirmed by evidence of dynamic instability. Copyright 1987 by Royal Economic Society.

Suggested Citation

  • Andrews, Martyn J, 1987. "The Aggregate Labour Market: An Empirical Investigation into Market-Clearing for the UK," Economic Journal, Royal Economic Society, vol. 97(385), pages 157-176, March.
    • Handle: RePEc:ecj:econjl:v:97:y:1987:i:385:p:157-76
    as

    Download full text from publisher

    File URL: http://links.jstor.org/sici?sici=0013-0133%28198703%2997%3A385%3C157%3ATALMAE%3E2.0.CO%3B2-N&origin=bc
    File Function: full text
    Download Restriction: Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Piekkola, Hannu, 2006. "Tax cuts and employment: Evidence from Finnish linked employer-employee data," Discussion Papers 1041, The Research Institute of the Finnish Economy.
    2. W D A Bryant, 2009. "General Equilibrium:Theory and Evidence," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 6875, December.
    3. Kees Folmer, 2009. "Why do macro wage elasticities diverge?," CPB Memorandum 224.rdf, CPB Netherlands Bureau for Economic Policy Analysis.
    4. Marc van der Steeg & Roel van Elk & Dinand Webbink, 2012. "Does intensive coaching reduce school dropout?," CPB Discussion Paper 224.rdf, CPB Netherlands Bureau for Economic Policy Analysis.
    5. John H. Pencavel, 1989. "Employment, Wages, and Unionism in a Model of the Aggregate Labor Market in Britain," NBER Working Papers 3030, National Bureau of Economic Research, Inc.
    6. Kees Folmer, 2009. "Why do macro wage elasticities diverge? A meta analysis," CPB Discussion Paper 122, CPB Netherlands Bureau for Economic Policy Analysis.
    7. Kees Folmer, 2009. "Why do macro wage elasticities diverge?," CPB Memorandum 224, CPB Netherlands Bureau for Economic Policy Analysis.
    8. Paul Oslington, 2012. "General Equilibrium: Theory and Evidence," The Economic Record, The Economic Society of Australia, vol. 88(282), pages 446-448, September.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ecj:econjl:v:97:y:1987:i:385:p:157-76. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley-Blackwell Digital Licensing or Christopher F. Baum (email available below). General contact details of provider: https://edirc.repec.org/data/resssea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.