Abstract
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.
Original language | English |
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Journal | Journal of Macroeconomics |
Volume | 31 |
Issue number | 1 |
Pages (from-to) | 29-34 |
Number of pages | 6 |
ISSN | 0164-0704 |
DOIs |
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Publication status | Published - 2009 |