wage inflation

Publication date: 1 Aug 2018 | Publication type: National Institute Economic Review | Theme: Macroeconomics | Authors: Bell, D, Blanchflower, D | JEL classification: J31, J42, J22, E31 | Journal: National Institute Economic Review Issue 245 | Publisher: Sage Publications, London
In this note, we argue that a considerable part of the explanation for the benign wage growth in the advanced world is the rise in underemployment. In the years after 2008 the unemployment rate understates labour market slack. Underemployment is more important than unemployment in explaining the...
Publication date: 7 Feb 2018 | Publication type: National Institute Economic Review | Theme: Macroeconomics, Employment & Social policy | External authors: Bell, D N F, Blanchflower, D G | JEL classification: J31, J42, J22, E31 | Journal: National Institute Economic Review Issue 243 | Publisher: Sage Publications, London
In this note, we focus on underemployment as a potential cause of lower wage growth, which itself may have deeper causes, but which has, we would argue, demonstrably changed since the 2008 recession. The gap between our measures of the number of additional hours required by those who want more...