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Employment in Manufacturing: A Long‐run Relationship and Short‐run Dynamics

Journal of Economic Studies

ISSN: 0144-3585

Article publication date: 1 May 1992

Abstract

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.

Keywords

Citation

MacDonald, R. and Murphy, P.D. (1992), "Employment in Manufacturing: A Long‐run Relationship and Short‐run Dynamics", Journal of Economic Studies, Vol. 19 No. 5. https://doi.org/10.1108/01443589210024809

Publisher

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MCB UP Ltd

Copyright © 1992, MCB UP Limited