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Real Wages and Unemployment in Britain during the 1930s

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  • Dimsdale, N H
  • Nickell, Stephen J
  • Horsewood, N

Abstract

This paper explains shifts in the level of economic activity in Britain in the interwar period, particularly from 1928 to 1937, and relates these to movements in the real wage. The authors' general thesis is that the real wage follows a path that is perfectly consistent with the recession of the early 1930s being instigated, in the main, by demand shocks. Supply-side factors are only of minor significance. Copyright 1989 by Royal Economic Society.

Suggested Citation

  • Dimsdale, N H & Nickell, Stephen J & Horsewood, N, 1989. "Real Wages and Unemployment in Britain during the 1930s," Economic Journal, Royal Economic Society, vol. 99(396), pages 271-292, June.
  • Handle: RePEc:ecj:econjl:v:99:y:1989:i:396:p:271-92
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    Cited by:

    1. Gunnar Bardsen & Jurgen A. Doornik & Jan Tore Klovland, 2010. "Wage Formation and Bargaining Power during the Great Depression," Scandinavian Journal of Economics, Wiley Blackwell, vol. 112(1), pages 211-233, March.
    2. Barry Eichengreen & Olivier Jeanne, 2000. "Currency Crisis and Unemployment: Sterling in 1931," NBER Chapters,in: Currency Crises, pages 7-43 National Bureau of Economic Research, Inc.
    3. Foreman-Peck, James & Hughes Hallett, Andrew & Ma, Yue, 2000. "A monthly econometric model of the transmission of the Great Depression between the principal industrial economies," Economic Modelling, Elsevier, vol. 17(4), pages 515-544, December.
    4. Graafland, J.J., 1991. "From Phillips curve to wage curve," MPRA Paper 21077, University Library of Munich, Germany.
    5. Hart, Robert A, 2001. "Hours and Wages in the Depression: British Engineering, 1926-1938," Explorations in Economic History, Elsevier, vol. 38(4), pages 478-502, October.
    6. Ed Butchart, 1997. "Unemploymentand Non-Employment in Interwar Britain," Economics Series Working Papers 1997-W16, University of Oxford, Department of Economics.
    7. Chouliarakis, George, 2003. "Unemployment and Capital Accumulation in Interwar Britain," Economics Discussion Papers 8864, University of Essex, Department of Economics.

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