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The Wage Curve

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  • Blanchflower, David G
  • Oswald, Andrew J

Abstract

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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Bibliographic Info

Article provided by Wiley Blackwell in its journal Scandinavian Journal of Economics.

Volume (Year): 92 (1990)
Issue (Month): 2 ()
Pages: 215-35

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Handle: RePEc:bla:scandj:v:92:y:1990:i:2:p:215-35

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Web page: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-9442

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