@techreport{NBERw4770,
 title = "Estimating a Wage Curve for Britain 1973-1990",
 author = "David G. Blanchflower and Andrew J. Oswald",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "4770",
 year = "1995",
 month = "February",
 URL = "http://www.nber.org/papers/w4770",
 abstract = {Following Phillip's original work on the UK, applied research on unemployment and wages has been dominated by the analysis of highly aggregated time-series data sets.  However, it has proved difficult with such methods to uncover statistically reliable models.  This paper adopts a different approach.  It uses microeconomic data on 175,000 British workers from 1973-1990 to provide evidence for the existence of a negatively sloped relationship linking the level of pay to the local rate of unemployment.  This 'wage curve' is found to have an elasticity of approximately -0.1.  Contrary to the Phillips Curve, no autoregression is found in wages.  The paper casts doubt on standard ideas in macroeconomics, regional economics and labour economics.},
}