Brunel University Research Archive(BURA) preserves and enables easy and open access to all
types of digital content. It showcases Brunel's research outputs.
Research contained within BURA is open access, although some publications may be subject
to publisher imposed embargoes. All awarded PhD theses are also archived on BURA.
Please use this identifier to cite or link to this item:
http://bura.brunel.ac.uk/handle/2438/26803| Title: | Nominal and real wages in the UK, 1750–2015: mean reversion, persistence and structural breaks |
| Authors: | Caporale, GM Gil-Alana, LA |
| Keywords: | nominal and real wages;mean reversion;persistence;fractional integration;structural breaks |
| Issue Date: | 5-Jul-2023 |
| Publisher: | Springer Nature |
| Citation: | Caporale, G.M. and Gil-Alana, L.A. (2023) 'Nominal and real wages in the UK, 1750–2015: mean reversion, persistence and structural breaks', SN Business & Economics, 3, 135, pp. 1 - 10. doi: 10.1007/s43546-023-00516-2. |
| Abstract: | Copyright © The Author(s) 2023. This paper analyses the stochastic properties of UK nominal and real wages over the period 1750–2015 using fractional integration techniques. Both the original series and logged ones are analysed. The results generally suggest that nominal wages exhibit a higher degree of persistence, which reflects relatively long lags between inflation and wage adjustments. Endogenous break tests are also carried out and various structural breaks are identified in both series. On the whole, the corresponding subsample estimates imply an increase over time in the degree of persistence of both series. |
| Description: | Data availability statement: Data are available from the authors upon request. Code availability: The codes are in Fortran and are available from the authors upon request. Originally developed as CESifo Working Paper No. 10018, available at https://www.cesifo.org/DocDL/cesifo1_wp10018.pdf. |
| URI: | https://bura.brunel.ac.uk/handle/2438/26803 |
| DOI: | https://doi.org/10.1007/s43546-023-00516-2 |
| Other Identifiers: | ORCID iD: Guglielmo Maria Caporale https://orcid.org/0000-0002-0144-4135; |
| Appears in Collections: | Dept of Economics and Finance Research Papers |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| FullText.pdf | Copyright © The Author(s) 2023. Rights and permissions: Open Access. This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article's Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article's Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit https://creativecommons.org/licenses/by/4.0/. | 480.52 kB | Adobe PDF | View/Open |
This item is licensed under a Creative Commons License
