Blanchflower, David G. <br/><br/>
Estimating a Wage Curve for Britain 1973-1990 / 
David G. Blanchflower, Andrew J. Oswald. 
 - Cambridge, Mass.  National Bureau of Economic Research  1994. 
 - 1 online resource:  illustrations (black and white); 
 - NBER working paper series  no. w4770 .
 - Working Paper Series (National Bureau of Economic Research)  no. w4770. .
<br/><br/> June 1994. 
<br/><br/> Following Phillip's original work on the UK, applied research on unemployment and wages has been dominated by the analysis of highly aggregated time-series data sets.  However, it has proved difficult with such methods to uncover statistically reliable models.  This paper adopts a different approach.  It uses microeconomic data on 175,000 British workers from 1973-1990 to provide evidence for the existence of a negatively sloped relationship linking the level of pay to the local rate of unemployment.  This 'wage curve' is found to have an elasticity of approximately -0.1.  Contrary to the Phillips Curve, no autoregression is found in wages.  The paper casts doubt on standard ideas in macroeconomics, regional economics and labour economics. 
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