The real wage–productivity nexus

Jennifer L. Castle, David F. Hendry, 13 January 2014

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The Great Recession has produced falling real wages (Elsby et al. 2013). There has not been the ‘usual’ unemployment reaction. As such, it may seem that the wage inflation/unemployment trade-off has shifted. Our recent work suggests otherwise (Castle and Hendry 2013).

Topics: Labour markets, Productivity and Innovation
Tags: productivity, real wages, wage inflation

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