Short-term forecasting of wages, employment and output in Barbados

  • Daniel O. Boamah
Part of the International Studies In Economic Modelling book series (ISIM)


The policy-maker’s understanding of the process of real output determination in an economy is greatly enhanced by an analysis of the labour force and of the determinants of wages and employment. In Barbados, much of the work on the labour force takes the form of one-period employment surveys. A noted example of this is the seminal work by Cumper (1959). There is a noticeable dearth of studies on what determines employment and wages in Barbados. The exception is the study by Downes and McClean (1982). However, in our opinion, their interesting theoretical discourse provides an insight into the effect of the bargaining process on money wage determination but still requires broader empirical support.


Real Wage Real Output Domestic Expenditure Average Annual Growth Rate Unit Labour Cost 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. Ashenfelter, O., Johnson, G. E. and Pencaval, J. H. (1972) Trade unions and the rate of change of money wages in United States manufacturing industry. Review of Economic Studies, 39.Google Scholar
  2. Boamah, D. O. (1981) Proposed Specification of an Econometric Model of the Barbadian Economy, Central Bank of Barbados (mimeo).Google Scholar
  3. Boamah, D. O. (1984) The stock of fixed capital in Barbados, 1958–1981: some exploratory estimates. Economic Review, Central Bank of Barbados, 11, No. 3, December, 8–20.Google Scholar
  4. Boamah, D. O. (1985) Wage formation, employment and output in Barbados. Social and Economic Studies, 34, No. 4, December, 199–217.Google Scholar
  5. Brooks, S. and Henry, B. (1983) Re-estimation of the National Institute Model, National Institute Economic Review, No. 103, February.Google Scholar
  6. Brown, A. (1980) Employment policy in the open dual economy. Social and Economic Studies, 29, No. 4, December, 112–24.Google Scholar
  7. Cumper, G. E. (1959) Employment in Barbados. Social and Economic Studies, 8, No. 2, June.Google Scholar
  8. Downes, A. S. (1980) A wage index for Barbados: an exploratory note. Caribbean Studies, 20, No. 2, June, 75–80.Google Scholar
  9. Downes, A. S. and McClean A. W. A. (1982) Wage determination in a small open unionized economy: the case of Barbados, UWI, Cave Hill Campus, November (mimeo).Google Scholar
  10. Farrell, Trevor (1980) The root of unemployment. Social and Economic Studies, 29, No. 4, December, 95–111.Google Scholar
  11. Irfan, M. (1982) Wages, employment and trade unions in Pakistan. The Pakistan Development Review, 21, No 1, Spring, 49–72.Google Scholar
  12. Iyoha, M. A. (1978) The relation between employment and growth in developing countries: an econometric analysis. Social and Economic Studies, 27, No. 1, March, 69–84.Google Scholar
  13. Komiya, R. and Yasui, K. (1984) Japan’s Macroeconomic performance since the first oil crisis: review and appraisal. Carnegie-Rochester Conference Series on Public Policy, 20, Spring, 67–114.CrossRefGoogle Scholar
  14. Ormerod, P. (1982) Rational and non-rational expectations of inflation in wage equations for the United Kingdom. Economica, 49, November, 375–87.CrossRefGoogle Scholar
  15. St Cyr, E. (1979) A Note on the Trinidad and Tobago inflationary experience, 1965–1976. Social and Economic Studies, 28, No. 3, September, 618–27.Google Scholar
  16. St Cyr, E. (1981) Wages, prices and the balance of payments: Trinidad and Tobago, 1956–1976. Social and Economic Studies, 30, No. 4, December, 111–33Google Scholar
  17. Worrell, D. and Holder, C. (1985) A model of price formation for small economies: three Caribbean examples. Journal of Development Economics, 18, December.Google Scholar

Copyright information

© Chapman and Hall Ltd 1988

Authors and Affiliations

  • Daniel O. Boamah

There are no affiliations available

Personalised recommendations