TY  - BOOK
AU  - Blanchflower,David G.
AU  - Oswald,Andrew J.
ED  - National Bureau of Economic Research.
TI  - Estimating a Wage Curve for Britain 1973-1990
T2  - NBER working paper series
PY  - 1994///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - June 1994; Hardcopy version available to institutional subscribers
N2  - 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
UR  - https://www.nber.org/papers/w4770
UR  - http://dx.doi.org/10.3386/w4770
ER  -