Topics in the OECD Phillips Curve

descriptionPublicationkeyboard_double_arrow_right Article 01 Mar 1986Publisher:Oxford University Press (OUP)Journal:The Economic Journal, volume 96, page 55 (issn: 0013-0133,

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Authors: Grubb, David B;

doi: 10.2307/2233426

Topics in the OECD Phillips Curve

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Abstract

How strongly have wages and unemployment been related in OECD countries during the postwar period? A simple answer is 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, compared with the rate of increase a year earlier. But such a figure needs interpretation, and the aim here is to describe wage behaviour in more detail.

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London School of Economics and Political Science
United Kingdom

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