The Wage Curve

David Blanchflower and Andrew Oswald

No 3181, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper, which follows in an LSE tradition begun by Phillips and Sargan, examines the role of unemployment in shaping pay. In contrast to most of the literature, it 1) uses microeconometric data on individuals and workplaces 2) examines a variety of data sets as a check on the robustness of results, and 3) studies the effects of unemployment on the real wage level (not on the rate of change of pay or prices) . The paper finds evidence - on British and US data - of a wage curve. The curve has a negative gradient at low levels of unemployment, but becomes horizontal at relatively high levels of unemployment.

Date: 1989-11
Note: LS
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Published as The Scandinavian Journal of Economics, Vol. 92, No. 2, pp. 215-235, 1990.
Published as David G. Blanchflower & Andrew J. Oswald, 1995. "The Wage Curve," MIT Press Books, The MIT Press, edition 1, volume 1, number 026202375x, April.

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Related works:
Book: The Wage Curve (1995)
Working Paper: THE WAGE CURVE (1989)
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