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- Title
TOPICS IN THE OECD PHILLIPS CURVE.
- Authors
Grubb, David
- Abstract
The article examines wage behavior, in relation to unemployment, in Organization for Economic Cooperation and Development (OECD) countries during the postwar period. The author states that, on average, a one percentage point higher rate of unemployment has been associated with a fall of about one percentage point in the rate of nominal wage increase in the current year, as compared with the rate of increase in the previous year. According to the author, one significant factor in the data he presented, which was not explained by conventional econometric variables, was the wage explosion of the late 1960s.
- Subjects
OECD countries; WAGES; EFFECT of wages on unemployment; EMPLOYMENT; INCOME; WAGE increases; ECONOMETRICS; LABOR supply; ECONOMIC policy
- Publication
Economic Journal, 1986, Vol 96, Issue 381, p55
- ISSN
0013-0133
- Publication type
Article
- DOI
10.2307/2233426