Comment on "The long-run determinants of UK wages, 1860-2004"

TY - JOUR

T1 - Comment on "The long-run determinants of UK wages, 1860-2004"

AU - Nielsen, Heino Bohn

N1 - JEL classification: J3, C2

PY - 2009

Y1 - 2009

N2 - This comment discusses the presence of Phillips-curve effects for the UK, 1860-2004. A reconsideration of the empirical evidence in Castle and Hendry (2009) seems to suggest different functional relationships between wage inflation and unemployment for different periods. We conclude that the role of unemployment may have changed over time - but it has certainly not disappeared.

AB - This comment discusses the presence of Phillips-curve effects for the UK, 1860-2004. A reconsideration of the empirical evidence in Castle and Hendry (2009) seems to suggest different functional relationships between wage inflation and unemployment for different periods. We conclude that the role of unemployment may have changed over time - but it has certainly not disappeared.

U2 - 10.1016/j.jmacro.2007.10.002

DO - 10.1016/j.jmacro.2007.10.002

M3 - Comment/debate

SN - 0164-0704

VL - 31

SP - 29

EP - 34

JO - Journal of Macroeconomics

JF - Journal of Macroeconomics

IS - 1

ER -