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- Title
The Phillips Curve: Another Forerunner.
- Authors
Bacon, Robert
- Abstract
This article provides information on the work of economist Jan Tinbergen. Following the publication of Phillips' work on the empirical relationship between the rate of change of wages and the level of unemployment, claims have been made that various economists pre-dated the work of Phillips. Another name should be added to those whose work had helped to create the climate in which Phillips and others were to carry out more detailed investigations. Tinbergen, in his series of econometric studies of various countries, estimated several forms of wage rate equation. These are interesting in that not only do they to some extent pre-date Phillips but also they foreshadow the work of other econometricians on the determinants of wage movements. Tinbergen's basic wage equation seems to have been one in which the level of wage rates was regressed on the level of unemployment but the variations on this equation tried in different studies do suggest the Phillips curve relation very clearly. His works on wage rate can be best read through the papers, An Econometric Approach to Business Cycle Problems, published in 1937, and Business Cycles in The United Kingdom 1870-1914, published in 1951.
- Subjects
TINBERGEN, Jan, 1903-1994; ECONOMISTS; WAGES; ECONOMETRICS; MATHEMATICAL economics
- Publication
Economica, 1973, Vol 40, Issue 159, p314
- ISSN
0013-0427
- Publication type
Article
- DOI
10.2307/2552803