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- W2074722997 abstract "This paper specifies an unemployment rate model with relatively long lags on the manufacturing real wage and the level of real GNP as the independent variables. Estimates of the model for 12 MSAs in Pennsylvania over the period from 1975:2 to 1986:4 generally indicate a fairly strong positive unemployment response to lagged real wages. This is consistent with theoretical models of the labor market that hypothesize strong real wage effects during periods of aggregate supply shocks. The unique characteristics of the time period under study and the disaggregation to local labor markets might account for the fact that, in contrast to many previous empirical studies, we are able to uncover evidence of a positive real wage-unemployment relationship in U.S. time series data." @default.
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- W2074722997 date "1988-07-01" @default.
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- W2074722997 title "Real Wages and Unemployment in Local Labor Markets: Pennsylvania MSAs, 1975-86" @default.
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- W2074722997 doi "https://doi.org/10.1111/j.1468-2257.1988.tb00474.x" @default.
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