A Quarterly Model of the Labour Market in Interwar Britain
AbstractIn this paper, the author estimates and tests a three-equation labor-market model for the interwar period on quarterly data. The results for employment indicate that real wage effects can be i dentified in the presence of other variables and that the real wage m akes a significant contribution to variations in employment over the cycle. For the insured labor force wage, effects are hard to identify in the presence of variables reflecting the stance of the insurance system and demographic factors. Alternative views of why unemployment persisted in the 1920s and 1930s are addressed by examining the wage equation. Copyright 1988 by Blackwell Publishing Ltd
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Bibliographic InfoArticle provided by Department of Economics, University of Oxford in its journal Oxford Bulletin of Economics & Statistics.
Volume (Year): 50 (1988)
Issue (Month): 1 (February)
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Other versions of this item:
- Hatton, Timothy J., 1987. "A Quarterly Model of the Labour Market in Interwar Britain," CEPR Discussion Papers 186, C.E.P.R. Discussion Papers.
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- Barry Eichengreen & Olivier Jeanne, 2000.
"Currency Crisis and Unemployment: Sterling in 1931,"
in: Currency Crises, pages 7-43
National Bureau of Economic Research, Inc.
- Barry Eichengreen & Olivier Jeanne, 1998. "Currency Crisis and Unemployment: Sterling in 1931," NBER Working Papers 6563, National Bureau of Economic Research, Inc.
- Eichengreen, Barry & Jeanne, Olivier, 1998. "Currency Crisis and Unemployment: Sterling in 1931," CEPR Discussion Papers 1898, C.E.P.R. Discussion Papers.
- Gunnar Bårdsen & Jurgen Doornik & Jan Tore Klovland, 2000. "A Wage Curve for the Interwar Labour Market: Evidence from a Panel of Norwegian Manufacturing Industries," Working Paper Series 1802, Department of Economics, Norwegian University of Science and Technology, revised 15 Apr 2001.
- Tony Syme, 2000. "Public Policy and Unemployment in Interwar France: An Empirical Approach," Economics Series Working Papers 55, University of Oxford, Department of Economics.
- Gunnar Bårdsen & Jurgen Doornik & Jan Tore Klovland, 2004.
"A European-type wage equation from an American-style labor market: Evidence from a panel of Norwegian manufacturing industries in the 1930s,"
2004/4, Norges Bank.
- Gunnar Bårdsen & Jurgen Doornik & Jan Tore Klovland, 2004. "A European-type wage equation from an American-style labor market: Evidence from a panel of Norwegian manufacturing industries in the 1930s," Working Paper 2004/8, Norges Bank.
- Eichengreen, Barry & Hatton, Tim, 1988. "Interwar Unemployment in International Perspective," Institute for Research on Labor and Employment, Working Paper Series qt7bw188gk, Institute of Industrial Relations, UC Berkeley.
- Torberg Falch, 2001. "Decentralized Public Sector Wage Determination: Wage Curve and Wage Comparison for Norwegian Teachers in the Pre‐WW2 Period," LABOUR, CEIS, vol. 15(3), pages 343-369, 09.
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