Employment in manufacturing: a long‐run relationship and short‐run dynamics

MacDonald, R. and Murphy, P.D. (1992) Employment in manufacturing: a long‐run relationship and short‐run dynamics. Journal of Economic Studies, 19(5), pp. 3-18. (doi: 10.1108/01443589210024809)

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Examines the behaviour of UK employment in manufacturing over the period 1964 to 1986. The use of cointegration techniques allows the separation of a long‐run equilibrium relationship for employment from its short‐run dynamics. The estimated model demonstrates a high degree of parameter stability both within and outwith the sample period used for estimation. Given the noted sensitivity of other employment equations to system shocks, the model′s performance pre – and post‐1979 is particularly noteworthy.

Item Type:Articles
Glasgow Author(s) Enlighten ID:MacDonald, Professor Ronald
Authors: MacDonald, R., and Murphy, P.D.
College/School:College of Social Sciences > Adam Smith Business School > Economics
Journal Name:Journal of Economic Studies
Publisher:Emerald Group Publishing Limited
ISSN (Online):1758-7387

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