| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP147 |
| DP147 Long-Term Unemployment, Excess Demand and the Wage Equation in Britain, 1925-39 | |
| Nicholas Crafts | |
| 发表日期 | 1986-12-01 |
| 出版年 | 1986 |
| 语种 | 英语 |
| 摘要 | The relationship between unemployment and the rate of change of money wages in interwar Britain is re-examined. It is argued that improved estimates of the wage equation can be obtained by taking account explicitly of factors which change the level of excess demand associated with the measured unemployment rate. In particular, the evidence suggests that long-term unemployment did not act as a restraint on the growth of money wages. New estimates of the wage equation imply that the NAIRU rose during the 1930s as the proportion of unemployment that was long term was higher than in the late 1920s. |
| 关键词 | Nairu Unemployment United kingdom Wage adjustment Wages |
| URL | https://cepr.org/publications/dp147 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529303 |
| 推荐引用方式 GB/T 7714 | Nicholas Crafts. DP147 Long-Term Unemployment, Excess Demand and the Wage Equation in Britain, 1925-39. 1986. |
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