Wages in the business cycle : an empirical and methodological analysis / Jonathan Michie.

Format:

Book

Author/Creator:

Michie, Jonathan, author.

Series:

Bloomsbury academic collections : economics

Language:

English

Subjects (All):

Business cycles--Econometric models.

Business cycles.

Wages--Econometric models.

Wages.

Physical Description:

1 online resource (209 pages) : illustrations.

Place of Publication:

London : F. Pinter, 1987.

Summary:

"During prolonged economic recessions when the normal cyclical expansion of output fails to materialize, the topic of the 'cyclical behaviour of wages' has emerged as an area of debate. In 1985, the British Treasury claimed that academic studies into the cyclical behaviour of wages demonstrated that a cut in wages would increase employment. Wages in the Business Cycle contests this argument by presenting the results of original, empirical work which illustrates the absence of any systematic empirical regularity to wage movements over the business cycle. Jonathan Michie argues that the re-emergence of this debate must be seen within the context of the theory of the 'labour demand function', representing an attempt to challenge the Keynesian theoretical assumptions implicit in the bulk of applied macro economic work up to the late 1970s."--Bloomsbury Publishing.

Contents:

1. Introduction

2. The Theoretical Background

3. A Survey of the Literature

4. International Results

5. Employment

6. Phases of the Cycle

7. Individual Industries and the Aggregate Economy

8. The History of the Cyclical Wage Debate

9. Conclusion

Appendix 1: Using Alternative Price Deflators

Appendix 2: Construction of Total Direct Cost Index

Appendix 3: Statistical Tests

Appendix 4: Data

Appendix 5: The Phase Average Trend Technique

Appendix 6: Seasonal Adjustment

Bibliography

Author Index

Subject Index

Notes:

Includes bibliographical references (pages [178]-190) and index.

ISBN:

9781472553911

1472553918

OCLC:

1154889368