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| Tekijä: | Blanchflower, D. G. |
| Otsikko: | Fear, unemployment and pay flexibility |
| Lehti: | Economic Journal
1991 : MAY, VOL. 101:406, p. 483-496 |
| Asiasana: | UNEMPLOYMENT PAY FLEXIBILITY LABOUR MARKETS MODELS TIME SERIES ECONOMETRIC MODELS UNITED KINGDOM |
| Kieli: | eng |
| Tiivistelmä: | The labour market plays a central role in macroeconomic analysis, and the theory of wage determination plays a central role in models of labour market. Despite of this, the behaviour of pay is not something economists claim to understand fully. Research in this field is divided into three major directions; theory of wage formation, cross-section research on pay using micro-econometric data sets, and the analysis of pay by estimating time series wage equations using aggregate data. The object of the paper is to blend aspects of these three distinct approaches. It takes microeconomic data on individuals for the UK between 1983 and 1989. |
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