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Original Articles

Estimates of a bargaining model of wages for the UK economy 1870-1995

Pages 63-66 | Published online: 06 Oct 2010
 

Abstract

This paper presents estimates of an error correction model for the real wage rate using annual data over the period 1870–1995. We find strong evidence for the existence of a cointegrating relationship between real wages, unemployment and the ratio of unemployment benefits to wages.

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