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Estimates of a bargaining model of wages for the UK economy 1870-1995

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  • Paul Turner

Abstract

This paper presents estimates of an error correction model for the real wage rate using annual data over the period 1870-1995. We find strong evidence for the existence of a cointegrating relationship between real wages, unemployment and the ratio of unemployment benefits to wages.

Suggested Citation

  • Paul Turner, 1999. "Estimates of a bargaining model of wages for the UK economy 1870-1995," Applied Economics Letters, Taylor & Francis Journals, vol. 6(2), pages 63-66.
    • Handle: RePEc:taf:apeclt:v:6:y:1999:i:2:p:63-66
    DOI: 10.1080/135048599353645
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    References listed on IDEAS

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    1. Ben Lockwood & Alan Manning, 1993. "Wage Setting and the Tax System: theory and Evidence for the UK," CEP Discussion Papers dp0115, Centre for Economic Performance, LSE.
    2. Lockwood, Ben & Manning, Alan, 1993. "Wage setting and the tax system theory and evidence for the United Kingdom," Journal of Public Economics, Elsevier, vol. 52(1), pages 1-29, August.
    3. repec:sae:niesru:v:111:y::i:1:p:62-85 is not listed on IDEAS
    4. R. Layard & S. Nickell, 1985. "The Causes of British Unemployment," National Institute Economic Review, National Institute of Economic and Social Research, vol. 111(1), pages 62-85, February.
    5. Manning, Alan, 1993. "Wage Bargaining and the Phillips Curve: The Identification and Specification of Aggregate Wage Equations," Economic Journal, Royal Economic Society, vol. 103(416), pages 98-118, January.
    6. Benjamin, Daniel K & Kochin, Levis A, 1979. "Searching for an Explanation of Unemployment in Interwar Britain," Journal of Political Economy, University of Chicago Press, vol. 87(3), pages 441-478, June.
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