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

Heino Bohn Nielsen

doi:10.1016/j.jmacro.2007.10.002

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

Department of Economics

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
Journal	Journal of Macroeconomics
Volume	31
Issue number	1
Pages (from-to)	29-34
Number of pages	6
ISSN	0164-0704
DOIs	https://doi.org/10.1016/j.jmacro.2007.10.002
Publication status	Published - 2009

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10.1016/j.jmacro.2007.10.002

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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.",

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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.

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

Abstract

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