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Comment on "The long-run determinants of UK wages, 1860-2004"

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  • Nielsen, Heino Bohn

Abstract

This comment discusses the presence of Phillips-curve effects for the UK, 1860-2004. A reconsideration of the empirical evidence in Castle and Hendry (2009) seems to suggest different functional relationships between wage inflation and unemployment for different periods. We conclude that the role of unemployment may have changed over time - but it has certainly not disappeared.

Suggested Citation

  • Nielsen, Heino Bohn, 2009. "Comment on "The long-run determinants of UK wages, 1860-2004"," Journal of Macroeconomics, Elsevier, vol. 31(1), pages 29-34, March.
    • Handle: RePEc:eee:jmacro:v:31:y:2009:i:1:p:29-34
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    References listed on IDEAS

    as
    1. Cavaliere, Giuseppe, 2005. "Limited Time Series With A Unit Root," Econometric Theory, Cambridge University Press, vol. 21(5), pages 907-945, October.
    2. A. W. Phillips, 1958. "The Relation Between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861–1957," Economica, London School of Economics and Political Science, vol. 25(100), pages 283-299, November.
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    Cited by:

    1. Jennifer Castle & David Hendry, 2013. "Semi-automatic Non-linear Model selection," Economics Series Working Papers 654, University of Oxford, Department of Economics.

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