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A SURVEY OF THE RECENT LITERATURE
A MODEL OF WAGE DETERMINATION
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analysis of wage annual approximately autocorrelation coefficients Bowen change in unemployment changes in money Chapter coefficient of determination component industries conditional function relating conditions for labor cost-of-living changes cost-of-living wage adjustments curve demand for labor determinant of wage economy effect on wages employment changes excess demand conditions expected explanatory variables final equation function relating percentage given group equation industrial employment industrial groups justments labor force labor market lag imposed Lipsey long-term unemployed market power group ment money wages moving average parameter estimates percentage wage changes Perry Phillips ployment postwar period price changes price level price-change variable Products profit rates profit variable rate of excess rate of unemployment regression results corresponding relating percentage wage relatively competitive group second quarter sectors significantly sponding standard errors suggest supply of labor t-ratios tions unemployment rate unemployment variable wage adjustments taking wage behavior wage effects wage equation wage increases Wage Stabilization Board workers