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Wages, profits and rent-sharing
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Blanchflower, David G. , Oswald, Andrew J. and Sanfey, Peter (1996) Wages, profits and rent-sharing. Quarterly Journal of Economics, Vol.111 (No.1). pp. 227-251. doi:10.2307/2946663 ISSN 0033-5533.
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WRAP_Oswald_wprs.pdf - Accepted Version Download (83Kb) |
Official URL: http://dx.doi.org/10.2307/2946663
Abstract
The paper suggests a new test for rent-sharing in the U.S. labor market. Using an unbalanced
panel from the manufacturing sector, it shows that a rise in a sector's profitability leads after some
years to an increase in the long-run level of wages in that sector. The paper controls for workers'
characteristics, for industry fixed-effects, and for unionism. Lester's range of wages is estimated,
for rent-sharing reasons alone, at approximately 24 per cent of the mean wage.
Item Type: | Journal Article | ||||
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Subjects: | H Social Sciences > HD Industries. Land use. Labor | ||||
Divisions: | Faculty of Social Sciences > Economics | ||||
Library of Congress Subject Headings (LCSH): | Labor economics -- United States | ||||
Journal or Publication Title: | Quarterly Journal of Economics | ||||
Publisher: | MIT Press | ||||
ISSN: | 0033-5533 | ||||
Official Date: | February 1996 | ||||
Dates: |
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Volume: | Vol.111 | ||||
Number: | No.1 | ||||
Page Range: | pp. 227-251 | ||||
DOI: | 10.2307/2946663 | ||||
Status: | Peer Reviewed | ||||
Access rights to Published version: | Open Access (Creative Commons) | ||||
Date of first compliant deposit: | 1 August 2016 | ||||
Date of first compliant Open Access: | 1 August 2016 | ||||
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