A generalised wage rigidity result
UNSPECIFIED. (2002) A generalised wage rigidity result. INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION, 20 (3). pp. 285-311. ISSN 0167-7187Full text not available from this repository.
This paper provides an alternative explanation of the empirically observed wage rigidity in industrialized economies. We provide sufficient conditions under which the negotiated wage in unionized imperfectly competitive industries is independent of a number of product market features, as well as of the bargaining institution (Right-to-Manage or Efficient Bargains), as long as negotiations are centralised at the industry level. The wage rate turns out to be the same independently of e.g. the number of firms, the degree of product substitutability, or the intensity of market competition, and this result is shown to hold in a broad class of industry specifications widely used in the literature. (C) 2002 Elsevier Science B.V. All rights reserved.
|Item Type:||Journal Article|
|Subjects:||H Social Sciences > HC Economic History and Conditions|
|Journal or Publication Title:||INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION|
|Publisher:||ELSEVIER SCIENCE BV|
|Number of Pages:||27|
|Page Range:||pp. 285-311|
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