The real wage–productivity nexus

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



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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