The University of Dublin | Trinity College -- Ollscoil Átha Cliath | Coláiste na Tríonóide
Trinity's Access to Research Archive
Home :: Log In :: Submit :: Alerts ::

JSSISI: Journal of The Statistical and Social Inquiry Society of Ireland, 1847- >
Archive JSSISI: 1847- Complete Collection >

Please use this identifier to cite or link to this item:

Title: Wage inflation and structural unemployment in Ireland
Other Titles: Barrington lecture 2007/2008
Author: Keeney, Mary J.
Keywords: Wage inflation
Issue Date: 2008
Publisher: Statistical and Social Inquiry Society of Ireland
Citation: Keeney, Mary J. 'Wage inflation and structural unemployment in Ireland'. - Dublin: Journal of the Statistical and Social Inquiry Society of Ireland, Vol.37, 2007/8 , pp.270-290
Series/Report no.: Journal of the Statistical and Social Inquiry Society of Ireland
Abstract: In this paper we represent structural unemployment by relating observed unemployment to wage inflation. An estimated series for the non-accelerating wage rate of unemployment (NAWRU) shows that the unemployment gap between observed unemployment and the structural rate provides a good reflection of prevailing aggregate demand conditions and indicates that our estimated NAWRU series is a good measure of the Irish structural unemployment situation. The estimated NAWRU was at a high level throughout the 1980s and declined over time such that any excess labour slack was dissipated by the mid-1990s. Between 1994 and 2001 we report that the observed unemployment rate was below our estimated NAWRU indicating that the substantial inflationary pressure on wages was justified for this period. Very recently, the gap between our estimate of the structural rate and observed rates of unemployment is not very substantial and reflects a healthier situation vis-à-vis wage inflationary pressures which are supported by inward migration and productivity increases becoming embedded in our economy.
Description: Barrington Lecture 2007/08, read before the Society, 29 May 2008
ISSN: 00814776
Appears in Collections:Archive JSSISI: 1847- Complete Collection
Barrington Lectures
JSSISI: 2007 to 2008, Vol. XXXVII, 161st Session

Files in This Item:

File Description SizeFormat
keeney 07-08.pdf342.78 kBAdobe PDFView/Open

This item is protected by original copyright

Please note: There is a known bug in some browsers that causes an error when a user tries to view large pdf file within the browser window. If you receive the message "The file is damaged and could not be repaired", please try one of the solutions linked below based on the browser you are using.

Items in TARA are protected by copyright, with all rights reserved, unless otherwise indicated.


Valid XHTML 1.0! DSpace Software Copyright © 2002-2010  Duraspace - Feedback