The Relation between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861–1957
E862170
"The Relation between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861–1957" is the landmark 1958 paper by economist A. W. Phillips that introduced the Phillips curve, demonstrating an inverse relationship between unemployment and wage inflation.
Statements (39)
| Predicate | Object |
|---|---|
| instanceOf |
academic journal article
ⓘ
economics paper ⓘ |
| author |
A. W. Phillips
NERFINISHED
ⓘ
Alban William Housego Phillips NERFINISHED ⓘ |
| basedOnDataFrom |
United Kingdom unemployment statistics
ⓘ
United Kingdom wage statistics ⓘ |
| citedAs | foundational work on the Phillips curve ⓘ |
| countryStudied | United Kingdom NERFINISHED ⓘ |
| dataEndYear | 1957 ⓘ |
| dataStartYear | 1861 ⓘ |
| demonstratesRelationshipBetween |
rate of change of money wage rates
ⓘ
unemployment ⓘ |
| empiricalFinding |
higher unemployment associated with lower or negative rates of money wage increase
ⓘ
lower unemployment associated with higher rates of money wage increase ⓘ |
| field |
labor economics
ⓘ
macroeconomics ⓘ |
| focusesOn | short-run trade-off between unemployment and wage inflation ⓘ |
| hasAlternativeName |
Phillips 1958 paper
NERFINISHED
ⓘ
Phillips curve paper NERFINISHED ⓘ |
| historicalContext | post-war development of macroeconomics ⓘ |
| influenced |
Keynesian macroeconomic policy
ⓘ
macroeconomic stabilization policy debates ⓘ |
| introducedConcept | Phillips curve NERFINISHED ⓘ |
| isLandmarkIn |
empirical macroeconomics
ⓘ
macroeconomic theory ⓘ |
| journalDiscipline | economics ⓘ |
| language | English ⓘ |
| mainTopic |
Phillips curve
NERFINISHED
ⓘ
money wage rates ⓘ unemployment ⓘ wage inflation ⓘ |
| publicationType | peer-reviewed article ⓘ |
| publicationYear | 1958 ⓘ |
| publishedIn | Economica NERFINISHED ⓘ |
| relatedConcept |
inflation-unemployment trade-off
ⓘ
wage-price dynamics ⓘ |
| shows | inverse relationship between unemployment and wage inflation ⓘ |
| timePeriodStudied | 1861–1957 ⓘ |
| usesMethod | econometric analysis of historical time series ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.
A. W. Phillips
→
notableWork
→
The Relation between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861–1957
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