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The Wage Curve

  • David G. Blanchflower

    ()

    (Dartmouth College)

  • Andrew J. Oswald

    ()

    (University of Warwick)

The Wage Curve casts doubt on some of the most important ideas in macroeconomics, labor economics, and regional economics. According to macroeconomic orthodoxy, there is a relationship between unemployment and the rate of change of wages. According to orthodoxy in labor economics and regional economics, an area's wage is positively related to the amount of joblessness in the area. The Wage Curve suggests that both these beliefs are incorrect. Blanchflower and Oswald argue that the stable relationship is a downward-sloping convex curve linking local unemployment and the level of pay. Their study, which is one of the most intensive in the history of social science, is based on random samples that provide computerized information on nearly four million people from sixteen countries. Throughout, the authors systematically present evidence and possible explanations for their empirical "law" of economics.

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This book is provided by The MIT Press in its series MIT Press Books with number 026202375x and published in 1995.
Volume: 1
Edition: 1
ISBN: 0-262-02375-X
Handle: RePEc:mtp:titles:026202375x
Contact details of provider: Web page: http://mitpress.mit.edu

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  1. Carruth, Alan A & Oswald, Andrew J, 1985. "Miners' Wages in Post-war Britain: An Application of a Model of Trade Union Behaviour," Economic Journal, Royal Economic Society, vol. 95(380), pages 1003-20, December.
  2. 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.
  3. Christofides, Louis N & Swidinsky, Robert & Wilton, David A, 1980. "A Microeconometric Analysis of the Canadian Wage Determination Process," Economica, London School of Economics and Political Science, vol. 47(186), pages 165-78, May.
  4. 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.
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  7. 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.
  8. Mcconnell, S., 1988. "Strikes, Wages And Private Information," Papers 10, Princeton, Woodrow Wilson School - Discussion Paper.
  9. David Card, 1988. "Unexpected Inflation, Real Wages, and Employment Determination in Union Contracts," Working Papers 612, Princeton University, Department of Economics, Industrial Relations Section..
  10. Blackaby, D H & Manning, D N, 1987. "Regional Earnings Revisited," The Manchester School of Economic & Social Studies, University of Manchester, vol. 55(2), pages 158-83, June.
  11. Anderson, T.M. & Risager, O., 1988. "Wage Formation In Denmark," Papers 414, Stockholm - International Economic Studies.
  12. Grubb, David B, 1986. "Topics in the OECD Phillips Curve," Economic Journal, Royal Economic Society, vol. 96(381), pages 55-79, March.
  13. Gilbert, C L, 1976. "The Original Phillips Curve Estimates," Economica, London School of Economics and Political Science, vol. 43(169), pages 51-57, February.
  14. Hersoug, Tor & Kjaer, Knut N & Rodseth, Asbjorn, 1986. "Wages, Taxes and the Utility-Maximizing Trade Union: A Confrontationwith Norwegian Data," Oxford Economic Papers, Oxford University Press, vol. 38(3), pages 403-23, November.
  15. Rod Cross, 2000. "Hysteresis and Emu," Metroeconomica, Wiley Blackwell, vol. 51(4), pages 367-379, November.
  16. Holmlund, B. & Skedinger, P., 1988. "Wage Bargaining And Wage Drift: Evidence From The Swedish Wood Industry," Papers 419, Stockholm - International Economic Studies.
  17. 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.
  18. 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.
  19. Oswald, Andrew J, 1982. "The Microeconomic Theory of the Trade Union," Economic Journal, Royal Economic Society, vol. 92(367), pages 576-95, September.
  20. Holmlund, B. & Skedinger, P., 1988. "Wage Bargaining And Wage Drift: Evidence From Swedish Wood Industry," Papers 1988g, Uppsala - Working Paper Series.
  21. Rowlatt, Penelope A, 1987. "A Model of Wage Bargaining," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 49(4), pages 347-72, November.
  22. Manning, Alan, 1990. "Imperfect Competition, Multiple Equilibria and Unemployment Policy," Economic Journal, Royal Economic Society, vol. 100(400), pages 151-62, Supplemen.
  23. Holly, Sean & Smith, Peter, 1987. "A Two-Sector Analysis of the UK Labour Market," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 49(1), pages 79-102, February.
  24. Marston, Stephen T, 1985. "Two Views of the Geographic Distribution of Unemployment," The Quarterly Journal of Economics, MIT Press, vol. 100(1), pages 57-79, February.
  25. Farber, Henry S, 1978. "Individual Preferences and Union Wage Determination: The Case of the United Mine Workers," Journal of Political Economy, University of Chicago Press, vol. 86(5), pages 923-42, October.
  26. 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.
  27. Beckerman, Wilfred & Jenkinson, Tim, 1986. "What Stopped the Inflation? Unemployment of Commodity Prices?," Economic Journal, Royal Economic Society, vol. 96(381), pages 39-54, March.
  28. Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
  29. Layard, Richard & Nickell, Stephen, 1986. "Unemployment in Britain," Economica, London School of Economics and Political Science, vol. 53(210(S)), pages S121-69, Supplemen.
  30. W. Rayack, 1987. "Sources and Centers of Cyclical Movement in Real Wages: Evidence from Panel Data," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 10(1), pages 3-21, October.
  31. 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.
  32. Paldam, Martin, 1980. " The International Element in the Phillips Curve," Scandinavian Journal of Economics, Wiley Blackwell, vol. 82(2), pages 216-39.
  33. Hoel, Michael & Nymoen, Ragnar, 1988. "Wage formation in norwegian manufacturing: An empirical application of a theoretical bargaining model," European Economic Review, Elsevier, vol. 32(4), pages 977-997, April.
  34. L Christofides & A Oswald, 1991. "Real Wage Determination and Rent-Sharing in Collective Bargaining Agreements," CEP Discussion Papers dp0042, Centre for Economic Performance, LSE.
  35. Louis N. Christofides & Andrew J. Oswald, 1989. "Real Wage Determinatioan in Collective BArgaining Agreements," NBER Working Papers 3188, National Bureau of Economic Research, Inc.
  36. McDonald, Ian M & Solow, Robert M, 1981. "Wage Bargaining and Employment," American Economic Review, American Economic Association, vol. 71(5), pages 896-908, December.
  37. Adams, James D, 1985. "Permanent Differences in Unemployment and Permanent Wage Differentials," The Quarterly Journal of Economics, MIT Press, vol. 100(1), pages 29-56, February.
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