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The Wage Curve

  • Blanchflower, David G
  • Oswald, Andrew J

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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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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  16. Nickell, Stephen J, 1987. "Why Is Wage Inflation in Britain So High?," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 49(1), pages 103-28, February.
  17. Oswald, Andrew J, 1982. "The Microeconomic Theory of the Trade Union," Economic Journal, Royal Economic Society, vol. 92(367), pages 576-95, September.
  18. Wadhwani, Sushil B, 1985. "Wage Inflation in the United Kingdom," Economica, London School of Economics and Political Science, vol. 52(206), pages 195-207, May.
  19. Nickell, Stephen & Wadhwani, Sushil, 1988. "Unions, wages and employment : Tests based on U.K. firm-level data," European Economic Review, Elsevier, vol. 32(2-3), pages 727-733, March.
  20. Laidler, David E W & Parkin, J Michael, 1975. "Inflation: A Survey," Economic Journal, Royal Economic Society, vol. 85(340), pages 741-809, December.
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  22. Pencavel, John H, 1984. "The Tradeoff between Wages and Employment in Trade Union Objectives," The Quarterly Journal of Economics, MIT Press, vol. 99(2), pages 215-31, May.
  23. Desai, Meghnad, 1973. "Growth cycles and inflation in a model of the class struggle," Journal of Economic Theory, Elsevier, vol. 6(6), pages 527-545, December.
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  25. Freeman, Richard B, 1988. "Evaluating the European View that the United States Has No Unemployment Problem," American Economic Review, American Economic Association, vol. 78(2), pages 294-99, May.
  26. Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
  27. Holmlund, B. & Skedinger, P., 1988. "Wage Bargaining And Wage Drift: Evidence From The Swedish Wood Industry," Papers 419, Stockholm - International Economic Studies.
  28. Bils, Mark J, 1985. "Real Wages over the Business Cycle: Evidence from Panel Data," Journal of Political Economy, University of Chicago Press, vol. 93(4), pages 666-89, August.
  29. Rod Cross, 2000. "Hysteresis and Emu," Metroeconomica, Wiley Blackwell, vol. 51(4), pages 367-379, November.
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  32. Paldam, Martin, 1980. " The International Element in the Phillips Curve," Scandinavian Journal of Economics, Wiley Blackwell, vol. 82(2), pages 216-39.
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