A new specification for aggregate employment in the UK.
European Economic Review
This paper derives and estimates a new specification for aggregate employment on U.K. data, which is to be preferred to existing alternatives on grounds of its empirical performance and theoretical consistency. It provides new estimates of key parameters – both the wage elasticity of labour demand and lags in employment adjustment are found to be significantly lower than existing estimates.
|Title:||A new specification for aggregate employment in the UK|
|Keywords:||JEL classification: E24. Employment, wage|
|UCL classification:||UCL > School of Arts and Social Sciences > Faculty of Social and Historical Sciences > Economics|
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