A Re–evaluation of the Relation between Wages and Unemployment in the United Kingdom
Bibliographic Data
| ID | 9725945 |
|---|---|
| Authors | Fatemeh Shadman–Mehta (UCLouvain, corresponding author) |
| Year | 2001 |
| Volume | 68 |
| Issue | 272 |
| Pages | 567-586 |
| Publication date | 2001-11-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economica (JOURNAL) |
| Journal identifiers | ISSN: 0013-0427 • E-ISSN: 1468-0335 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/1468-0335.00262 |
| OpenAlex | W2058845534 |
| Language | EN |
| Citations received | 1 |
| References cited | 14 |
This paper examines the long–run or equilibrium relationship between wages, prices and the unemployment rate in the United Kingdom, using annual data covering the period 1860–1999. Using Johansen’s maximum likelihood method of testing for cointegration, two long–run relations are found in a small system of four variables. The first relation depicts the co–movement of the level of real wages adjusted for productivity, together with the unemployment rate and the rate of inflation. The second relation shows the co–movement between the rate of inflation and deviations of productivity from its trend growth
Cointegration · Econometrics · Economics · Inflation (cosmology) · Inflation rate · Interest rate · Labour economics · Macroeconomics · Misery index · Productivity · Real wages · Relation (database) · Unemployment · Unemployment rate · Economic Growth and Productivity · Economic Theory and Policy · Monetary Policy and Economic Impact
Autoregressive Conditional Heteroscedasticity with Estimates of the Variance of United Kingdom Inflation
The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis
A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity
Maximum Likelihood Estimation and Inference on Cointegration — With Applications to the Demand for Money
The Role of Monetary Policy
Determining the Order of Differencing in Autoregressive Processes
Modelling Linear Dynamic Econometric Systems
Unemployment in Britain
The Relation Between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861–1957 1
Phillips Curves, Expectations of Inflation and Optimal Unemployment over Time
The Trade‐off Interpretation of Phillips’s Dynamic Stabilization Exercise
Unemployment
Statistical analysis of cointegration vectors
Two Econometric Replications
| Unique citing works | 1 |
|---|---|
| Citations per year | 0,07 |
| Citation span | 2011 - 2011 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 1 |