Wages and employment: issues and evidence

D N F Bell, Darryl R Holden, Peter G McGregor

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Abstract

The present Government has laid considerable emphasis on the notion that workers can, and indeed should, "price themselves into jobs", an emphasis apparently vindicated by the Treasury's recent review of empirical evidence concerning the relationship between
employment and wages. In this article we attempt to provide a non-technical guide to the major economic issues involved in this debate, and to provide a necessarily selective account of the empirical evidence relevant to these issues. We begin by examining one major aspect of the debate: the response of firms' demands for labour to changes in the real wage.
Original languageEnglish
Pages (from-to)74-72
Number of pages9
JournalQuarterly Economic Commentary
Volume10
Issue number4
Publication statusPublished - May 1985

Keywords

  • wage inflation
  • employment patterns
  • labour demand

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