Labor Reserves and the Phillips Curve

Norman J. Simler · Alfred Tella

56 citations0/0 files storedThe Review of Economics and Statistics

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Monetary Policy and Economic Impact Labor market dynamics and wage inequality Unemployment and Economic Growth

Abstract

where W is the annual rate of change of money wages in manufacturing, P is the annual rate of change of consumer prices, U is the average annual civilian unemployment rate, and R is the average annual profit rate of manufacturing corporations.' On the assumption that P -(W), specifically, P = W r, where r is the trend rate of increase of output per man-hour in the private non-farm economy the steady-state solution for W is a a-blr + b3R + b2 t. (1.2) 1-b, 1-b,

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1972A Labor Supply Model for Secondary Workers 1980On the Existence and Secular Stability of u-v Loci 1971Quarterly Models of Wage Determination: Some New Efficient Estimates 1971THE PHILLIPS CURVE AND ALL THAT*1971Incomes Policies and Inflation 1975Wage Indexation, Inflation, and the Labor Market (Indexation salariale, inflation et marche du travail) (Indizacion de salarios, inflacion y mercado de trabajo)1973The Success of Anti-Inflation Policies in the United States 1977The Death of the Phillips Curve Reconsidered

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