Title: LABOR FORCE COMPOSITION AND THE PHILLIPS CURVE.
Authors: Wise, Donald E.
Abstract: This paper presents a model of unemployment and wage inflation based on Phillips curves estimated by age-sex-color groups. The model is estimated using data for the period 1949-1967 with projections for the period 1968-1973. The paper concludes that when allowances are made for changes in the age-sex-color composition of the labor force the standard Phillips curve framework is quite capable of explaining the 1968-1973 period without resorting to the notion of a "natural rate of unemployment" or a "long run Phillips curve."
Subjects: UNEMPLOYMENT; WAGES; LABOR supply
Publication: Economic Inquiry, 1975, Vol 13, Issue 2, p297
ISSN: 0095-2583
Publication type: Academic Journal
DOI: 10.1111/j.1465-7295.1975.tb00996.x

LABOR FORCE COMPOSITION AND THE PHILLIPS CURVE.

Wise, Donald E.