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The macroeconomic movements of real wage rates and employment: further evidence

Yanlong Zhang and Taoxiong Liu

Applied Economics Letters, 2020, vol. 27, issue 13, 1048-1055

Abstract: Supported by the empirical results of the frequency table approach applied to a time series of data related to average weekly wages and employment in the United Kingdom, the United States, and Canada, this paper contends that across an entire economy, real wage rates behave countercyclically in the short term, as John Maynard Keynes predicted in his general theory.

Date: 2020
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DOI: 10.1080/13504851.2019.1659922

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