Carruth, Alan; Oswald, Andrew - In: Oxford Bulletin of Economics and Statistics 49 (1987) 1, pp. 59-78
This paper studies wage inflexibility in Britain. It examines various kinds of microeconomic data on move ments in real pay and uses aggregate data to estimate real consumptio n earnings and real product wage rate equations. The paper's first ma in point is that the unemployment elasticity of...