LEADER 02896nam 22004811 450 001 9910792734603321 005 20200514202323.0 010 $a1-4725-5391-8 024 7 $a10.5040/9781472553911 035 $a(CKB)3710000001095445 035 $a(MiAaPQ)EBC4427676 035 $a(OCoLC)1154889368 035 $a(UtOrBLW)bpp09257005 035 $a(EXLCZ)993710000001095445 100 $a20140929d1987 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $2rdacontent 182 $2rdamedia 183 $2rdacarrier 200 10$aWages in the business cycle $ean empirical and methodological analysis /$fJonathan Michie 210 1$aLondon :$cF. Pinter,$d1987. 215 $a1 online resource (209 pages) $cillustrations 225 0 $aBloomsbury academic collections : economics 311 $a1-4725-1318-5 311 $a1-4725-0819-X 320 $aIncludes bibliographical references (pages [178]-190) and index. 327 $a1. Introduction -- 2. The Theoretical Background -- 3. A Survey of the Literature -- 4. International Results -- 5. Employment -- 6. Phases of the Cycle -- 7. Individual Industries and the Aggregate Economy -- 8. The History of the Cyclical Wage Debate -- 9. Conclusion -- Appendix 1: Using Alternative Price Deflators -- Appendix 2: Construction of Total Direct Cost Index -- Appendix 3: Statistical Tests -- Appendix 4: Data -- Appendix 5: The Phase Average Trend Technique -- Appendix 6: Seasonal Adjustment -- Bibliography -- Author Index -- Subject Index 330 $a"During prolonged economic recessions when the normal cyclical expansion of output fails to materialize, the topic of the 'cyclical behaviour of wages' has emerged as an area of debate. In 1985, the British Treasury claimed that academic studies into the cyclical behaviour of wages demonstrated that a cut in wages would increase employment. Wages in the Business Cycle contests this argument by presenting the results of original, empirical work which illustrates the absence of any systematic empirical regularity to wage movements over the business cycle. Jonathan Michie argues that the re-emergence of this debate must be seen within the context of the theory of the 'labour demand function', representing an attempt to challenge the Keynesian theoretical assumptions implicit in the bulk of applied macro economic work up to the late 1970s."--Bloomsbury Publishing. 606 $aBusiness cycles$xEconometric models 606 $aWages$xEconometric models 606 $2Business studies: general 615 0$aBusiness cycles$xEconometric models. 615 0$aWages$xEconometric models. 676 $a331.2/1 700 $aMichie$b Jonathan$0123211 801 0$bUtOrBLW 801 1$bUtOrBLW 801 2$bUkLoBP 906 $aBOOK 912 $a9910792734603321 996 $aWages in the Business Cycle$9577305 997 $aUNINA