G2TT
来源类型Discussion paper
规范类型论文
来源IDDP186
DP186 A Quarterly Model of the Labour Market in Interwar Britain
Timothy Hatton
发表日期1987-07-01
出版年1987
语种英语
摘要The paper analyses the determinants of interwar unemployment using a previously unexploited quarterly data set for 1924-39. Individual equations for insured employment, insured unemployment and the nominal wage rate are estimated and tested. The results indicate that the real wage was an important determinant of employment but not of the labor force, where demographic variables and the effects of the insurance system dominate. The model of wage setting encompasses several different hypotheses concerning the operation of the labor market. Three special cases with widely differing implications for labor market adjustment are each found to be consistent with the data. The data used in this study do not allow us to distinguish between interpretations which emphasize structural unemployment, wage rigidity or benefit-induced unemployment: this helps explain why such divergent views have been maintained.
关键词Britain Labour market adjustment Unemployment Wage rigidity Wage setting Wages
URLhttps://cepr.org/publications/dp186
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/529345
推荐引用方式
GB/T 7714
Timothy Hatton. DP186 A Quarterly Model of the Labour Market in Interwar Britain. 1987.
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