- Abstract:
-
In recent years UK real wages have been growing faster than labour factor productivity, implying that the labour share has been rising. This paper looks at various definitions of the labour share and derives a measure for the UK, which appears positively correlated with the growth rate of the UK gross value added price deflator. Following Layard, Nickell and Jackman (1991), we investigate the relationship between inflation and the share more formally by estimating a pricing equation or “ne...
Expand abstract - Publication status:
- Published
- Peer review status:
- Not peer reviewed
- Series:
- External MPC Unit Discussion Paper
- Publication date:
- 2000-01-01
- ISSN:
-
1748-6203
- URN:
-
uuid:2d91e0d3-47f9-4154-9f9d-aee37ce92408
- Local pid:
- ora:7937
- Language:
- English
- Keywords:
- Subjects:
- Copyright holder:
- External MPC Unit, Bank of England and Bank of England
- Copyright date:
- 2000
- Notes:
- The full-text of this article is not currently available in ORA, but you may be able to access the article via the publisher copy link on this record page.
Working paper
"Inflation dynamics and the labour share in the UK"
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