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Wage dispersion and inflation: evidence from UK manufacturing industries

Wage dispersion and inflation: evidence from UK manufacturing industries
Wage dispersion and inflation: evidence from UK manufacturing industries
We specify a model relating wage dispersion across 16 sectors of UK manufacturing to a rich array of sector specific and macroeconomic variables. We find sectoral vacancy dispersion, a trade-union power proxy, short-run unemployment, and inflation affect wage dispersion. In particular, we find a strong negative relation between wage dispersion and inflation surprises within a well-specified model, reinforcing similar findings for the US and Israel.
0165-1765
357-362
Smith, Peter N.
74b4534a-c1ae-4d48-ae17-c10469bb4d61
Thomas, Stephen H.
a93cfe4e-b533-48ff-b1c1-2e0d4e3bf448
Smith, Peter N.
74b4534a-c1ae-4d48-ae17-c10469bb4d61
Thomas, Stephen H.
a93cfe4e-b533-48ff-b1c1-2e0d4e3bf448

Smith, Peter N. and Thomas, Stephen H. (1991) Wage dispersion and inflation: evidence from UK manufacturing industries. Economics Letters, 37 (4), 357-362. (doi:10.1016/0165-1765(91)90071-R).

Record type: Article

Abstract

We specify a model relating wage dispersion across 16 sectors of UK manufacturing to a rich array of sector specific and macroeconomic variables. We find sectoral vacancy dispersion, a trade-union power proxy, short-run unemployment, and inflation affect wage dispersion. In particular, we find a strong negative relation between wage dispersion and inflation surprises within a well-specified model, reinforcing similar findings for the US and Israel.

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Published date: 1991
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Identifiers

Local EPrints ID: 37389
URI: http://eprints.soton.ac.uk/id/eprint/37389
DOI: doi:10.1016/0165-1765(91)90071-R
ISSN: 0165-1765
PURE UUID: e2c6af9f-665f-4229-8289-5f89084b94bc

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Date deposited: 28 Feb 2007
Last modified: 15 Mar 2024 07:58

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Contributors

Author: Peter N. Smith
Author: Stephen H. Thomas

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