The Wage Curve: A Review

David Card

No 722, Working Papers from Princeton University, Department of Economics, Industrial Relations Section.

Abstract: In The Wage Qurve, David G. Blancflower and Andrew J. Oswald argue that there is a fundamental negative relation between wages and the unemployment rate in a worker's local labor market. Blancflower and Oswald use large-scale micro data sets to estimate this relation for the United States, Britain, and 10 other countries. I review their empirical methods and findings, and provide some further evidence on the nature of the wage curve relationship in the United States. I conclude that there is a strong statistical correlation between rates of pay and local unemployment, although the interpretation of this correlation remains unresolved.

Keywords: wage curve; local labor markets; wage determination (search for similar items in EconPapers)
JEL-codes: B16 B19 (search for similar items in EconPapers)
Date: 1995-02
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Citations: View citations in EconPapers (292)

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Journal Article: The Wage Curve: A Review (1995)
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Persistent link: https://EconPapers.repec.org/RePEc:pri:indrel:343

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