A Wage Curve for the Interwar Labour Market: Evidence from a Panel of Norwegian Manufacturing Industries
We present an econometric analysis of wage behaviour in Norway during the interwar years. Applying GMM estimation methods to a newly constructed panel of manufacturing industry data, we find that the interwar years do not seem to be such an anomalous time period as has been suggested with respect to wage behaviour. We estimate a long-run wage curve that has all the modern features of being homogeneous in prices, proportional to productivity, and having an unemployment elasticity of -0.1. We also present some new Monte Carlo evidence on the properties of the estimators used.
|Date of creation:||15 May 2000|
|Date of revision:||15 Apr 2001|
|Contact details of provider:|| Postal: 7491 Trondheim|
Phone: 73 59 19 40
Fax: 73 59 69 54
Web page: http://www.svt.ntnu.no/iso/WP/wp.htm
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- David G. Blanchflower & Andrew J. Oswald, 1995.
"The Wage Curve,"
MIT Press Books,
The MIT Press,
edition 1, volume 1, number 026202375x, January.
- Blanchflower, David G & Oswald, Andrew J, 1990. " The Wage Curve," Scandinavian Journal of Economics, Wiley Blackwell, vol. 92(2), pages 215-235.
- David G. Blanchflower & Andrew J. Oswald, 1989. "The Wage Curve," NBER Working Papers 3181, National Bureau of Economic Research, Inc.
- Blanchflower, D. & Oswald, A., 1989. "The Wage Curve," Papers 340, London School of Economics - Centre for Labour Economics.
- Ben S. Bernanke & James Powell, 1986. "The Cyclical Behavior of Industrial Labor Markets: A Comparison of the Prewar and Postwar Eras," NBER Chapters,in: The American Business Cycle: Continuity and Change, pages 583-638 National Bureau of Economic Research, Inc.
- Ben S. Bernanke & James L. Powell, 1984. "The Cyclical Behavior of Industrial Labor Markets: A Comparison of the Pre-War and Post-War Eras," NBER Working Papers 1376, National Bureau of Economic Research, Inc.
- Blundell, Richard & Bond, Stephen, 1998. "Initial conditions and moment restrictions in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 87(1), pages 115-143, August.
- R Blundell & Steven Bond, "undated". "Initial conditions and moment restrictions in dynamic panel data model," Economics Papers W14&104., Economics Group, Nuffield College, University of Oxford.
- Blundell, R. & Bond, S., 1995. "Initial Conditions and Moment Restrictions in Dynamic Panel Data Models," Economics Papers 104, Economics Group, Nuffield College, University of Oxford.
- Richard Blundell & Stephen Bond, 1995. "Initial conditions and moment restrictions in dynamic panel data models," IFS Working Papers W95/17, Institute for Fiscal Studies.
- Wulfsberg, Fredrik, 1997. "An Application of Wage Bargaining Models to Norwegian Panel Data," Oxford Economic Papers, Oxford University Press, vol. 49(3), pages 419-440, July.
- Wulfsberg, F., 1995. "An Application of Wage Bargaining Models to Norwegian Panel Data," Memorandum 29/1995, Oslo University, Department of Economics.
- Broadberry, S N, 1986. "Aggregate Supply in Interwar Britain," Economic Journal, Royal Economic Society, vol. 96(382), pages 467-481, June.
- Hatton, T J, 1988. "A Quarterly Model of the Labour Market in Interwar Britain," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 50(1), pages 1-25, February.
- Hatton, Timothy J., 1987. "A Quarterly Model of the Labour Market in Interwar Britain," CEPR Discussion Papers 186, C.E.P.R. Discussion Papers.
- Johansen, Kare, 1995. "Norwegian Wage Curves," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 57(2), pages 229-247, May.
- Bardsen, Gunnar, 1989. "Estimation of Long Run Coefficients in Error Correction Models," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 51(3), pages 345-350, August.
- Manuel Arellano & Stephen Bond, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Oxford University Press, vol. 58(2), pages 277-297.
- Tom Doan, "undated". "RATS program to replicate Arellano-Bond 1991 dynamic panel," Statistical Software Components RTZ00169, Boston College Department of Economics.
When requesting a correction, please mention this item's handle: RePEc:nst:samfok:1802. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Hilde Saxi Gildberg)
If references are entirely missing, you can add them using this form.