Abstract
In this paper, the theory of covariance-stationary stochastic processes is used in order to investigate the sign and the significance of the relationship between employment and real wages. It is shown that when appropriate distributed lags are estimated the data suggest that employment and real wages are negatively correlated. The response appears to be non-contemporaneous and statistically significant.
Keywords
Sign (mathematics)EconomicsCovarianceEconometricsSeries (stratigraphy)Real wagesTime seriesOrder (exchange)Labour economicsMathematicsWageStatistics
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Publication Info
- Year
- 1978
- Type
- article
- Volume
- 86
- Issue
- 2, Part 1
- Pages
- 281-291
- Citations
- 154
- Access
- Closed
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Cite This
Salih N. Neftçi
(1978).
A Time-Series Analysis of the Real Wages-Employment Relationship.
Journal of Political Economy
, 86
(2, Part 1)
, 281-291.
https://doi.org/10.1086/260667
Identifiers
- DOI
- 10.1086/260667