Implications of current wage inflation − speech by Jonathan Haskel

Given at Bank of England Watchers’ Conference, King’s College London
Published on 03 November 2023
Jonathan talks about recent UK wage growth, and why it might be as high as it appears to be. He considers some measurement issues, and then constructs a simple economic model of wages. Finally, he considers some economic explanations for an increase in the equilibrium rate of unemployment, which may be contributing to current high wage growth.