Comment on "The long-run determinants of UK wages, 1860-2004"
AbstractThis 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.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Macroeconomics.
Volume (Year): 31 (2009)
Issue (Month): 1 (March)
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Web page: http://www.elsevier.com/locate/inca/622617
Long-run Wage determination Phillips curve;
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- Cavaliere, Giuseppe, 2005.
"Limited Time Series With A Unit Root,"
Cambridge University Press, vol. 21(05), pages 907-945, October.
- 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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