THE EMPIRICAL ECONOMICS OF LABOUR DEMAND AND SUPPLY IN GREAT BRITAIN: A COMMENT

John Cubbin and Kevin Foley

No 268969, Economic Research Papers from University of Warwick - Department of Economics

Abstract: The change in the relationship between unemployment and vacancies in Great Britain has produced different explanations. The difference boils down to whether there has been a shift in labour demand or supply. This paper specifies the "labour supply" hypothesis so that its plausibility can be tested using prediction tests and Chow tests. The conclusion is that the effect of improved unemployment benefits on median unemployment duration and numbers unemployed was minimal. Any shift in the supply side can best be accounted for by an increase in the demand for leisure arising from increased affluence.

Keywords: Agricultural and Food Policy; Labor and Human Capital (search for similar items in EconPapers)
Pages: 21
Date: 1975-07-07
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uwarer:268969

DOI: 10.22004/ag.econ.268969

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