Wages, unemployment and benefits in inter-war Britain: an exercise in robust estimation

Article Abstract:

A robust estimation method to deal with high information content outliers is presented and applied to a consideration of unemployment and wage issues for the UK in the inter-war period. Disregard of outliers or leverage points, especially in cases where data are not abundant, is seen as inappropriate, and treatment by a method of robust regression a means of increasing the efficiency of estimates. Application of the methodology leads to revealing an association between unemployment and the benefit wage ration in inter-war Britain, as well as a linkage of unemployment benefits and the wage rate.

Usage, Economic history, Estimation theory, Outliers (Statistics)

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Anglo-German productivity differences: the role of broad capital

Article Abstract:

The effects of broad capital on labor productivity in Germany and the UK were examined. A production function model was employed to measure productivity levels in UK relative to German manufacturing industries. Results showed that workforce skills, physical capital and R&D expenditures account for the labor productivity gap between the two countries in the late 1980s. It was found out that Germany had considerable productivity advantage over the UK during that period.

Productivity, Manufacturing, Capital Management-Internal Funds NEC, Models, Manufacturing industry, Manufacturing industries, Germany, Statistics, Capital markets, Labor productivity, Capital

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Indirect employment effects of foreign direct investment into the UK

Article Abstract:

A correlation exists between inward investment and changes in wage rates. An analysis of two separate time periods involving UK industries from 1986 to 1989 and from 1989 to 1992 shows that domestic wages increase with inward investment. The analysis also shows that firm-specific advantage is gained by foreign companies entering an industry in the UK. Such advantage can be observed in terms of a productivity differential over the domestic sector.

Foreign investments, Employment, Wages, Wages and salaries

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