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Wages and Product Market Power

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Author Info
Nickell, S
Vainiomaki, J
Wadhwani, S

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Abstract

This paper analyzes time-series on some 800 British manufacturing companies to address various questions concerning the role of insiders and market power in wage determination. The following are the most important results. First, product market power has a positive impact on wages; this impact is enhanced in large firms but is not influenced by union status. Second, while firm-specific factors influence wages, the size of these effects is not influenced by union status, firm size or product market power; however, product market power reduces the generally strong negative effect of unemployment on wages. Finally, there is no robust evidence of insider power at work in wage-setting irrespective of product market position. Copyright 1994 by The London School of Economics and Political Science.

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Publisher Info
Article provided by London School of Economics and Political Science in its journal Economica.

Volume (Year): 61 (1994)
Issue (Month): 244 (November)
Pages: 457-73
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Handle: RePEc:bla:econom:v:61:y:1994:i:244:p:457-73

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  1. Bernd Görzig & Martin Gornig & Axel Werwatz, 2006. "East Germany’s Wage Gap: A non-parametric decomposition based on establishment characteristics," SFB 649 Discussion Papers SFB649DP2006-044, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany. [Downloadable!]
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  2. Anabela Carneiro & Pedro Portugal, 2006. "Market Power, Dismissal Threat and Rent Sharing: The Role of Insider and Outsider Forces in Wage Bargaining," IZA Discussion Papers 2102, Institute for the Study of Labor (IZA). [Downloadable!]
  3. Lars Calmfors, 2001. "Wages and Wage-Bargaining Institutions in the Emu : A Survey of the Issues," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
  4. Bernd Görzig & Martin Gornig & Axel Werwatz, 2006. "Firm Specific Wage Spread in Germany - Decomposition of regional differences in inter firm wage dispersion," SFB 649 Discussion Papers SFB649DP2006-045, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany. [Downloadable!]
  5. Nekby, Lena, 2002. "Gender Differences in Rent Sharing and its Implications for the Gender Wage Gap," Working Paper Series 182, Trade Union Institute for Economic Research. [Downloadable!]
  6. Garcia, Angel & Jaumandreu, Jordi & Rodriguez, Cesar, 2004. "Innovation and jobs: evidence from manufacturing firms," MPRA Paper 1204, University Library of Munich, Germany. [Downloadable!]
  7. Amable, Bruno & Gatti, Donatella, 2001. "The Impact of Product Market Competition on Employment and Wages," IZA Discussion Papers 276, Institute for the Study of Labor (IZA). [Downloadable!]
  8. Julius Spatz, 2003. "The Impact of Structural Reforms on Wages and Employment: The Case of Formal versus Informal Workers in Bolivia," Kiel Working Papers 1186, Kiel Institute for the World Economy. [Downloadable!]
  9. Shakhnovich Ruvim & Yudashkina Galina, 2001. "Wage-Setting and Employment Behavior of Enterprises during the Period of Economic Transition," EERC Working Paper Series 01-04e, EERC Research Network, Russia and CIS. [Downloadable!]
  10. Pekka Ilmakunnas & Mika Maliranta & Jari Vainiomaki, 2000. "The Roles of Employer and Employee Characteristics for Plant Productivity," Econometric Society World Congress 2000 Contributed Papers 1349, Econometric Society. [Downloadable!]
  11. Arai, Mahmood, 1999. "Wages, Profits and Capital Intensity: Evidence from Matched Worker-Firm Data," Research Papers in Economics 1999:3, Stockholm University, Department of Economics. [Downloadable!]
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  12. Elizabeth Webster & Yi-Ping Tseng, 2000. "The Determinants of Relative Wage Change in Australia," Melbourne Institute Working Paper Series wp2000n23, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne. [Downloadable!]
  13. Kauppi, Heikki & Koskela, Erkki & Stenbacka, Rune, 2004. "Equilibrium Unemployment and Investment Under Product and Labour Market Imperfections," IZA Discussion Papers 1058, Institute for the Study of Labor (IZA). [Downloadable!]
  14. Heikki Kauppi & Erkki Koskela & Rune Stenbacka, 2004. "Equilibrium Unemployment and Capital Intensity Under Product and Labor Market Imperfections," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
  15. George Symeonidis, 2007. "The Effect of Competition on Wages and Productivity: Evidence from the UK," Economics Discussion Papers 626, University of Essex, Department of Economics. [Downloadable!]
  16. Damien J. Neven & Lars-Hendrik Röller & Zhentang Zhang, 2002. "Endogenous Costs and Price-Cost Margins," Discussion Papers of DIW Berlin 294, DIW Berlin, German Institute for Economic Research. [Downloadable!]
  17. H. Naci Mocan & Deborah Viola, 1997. "The Determinants of Child Care Workers' Wages and Compensation: Sectoral Differences, Human Capital, Race, Insiders and Outsiders," NBER Working Papers 6328, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  18. Arai, Mahmood & Heyman, Fredrik, 2001. "Wages, Profits and Individual Unemployment Risk : Evidence from Matched Worker-Firm Data," Working Paper Series 172, Trade Union Institute for Economic Research. [Downloadable!]
  19. Kåre Johansen, 2002. "Regional Wage Curves Empirical Evidence from Norway," Working Paper Series 0302, Department of Economics, Norwegian University of Science and Technology. [Downloadable!]
  20. Calmfors, Lars, 2001. "Wages and wage-bargaining institutions in the EMU – a survey of the issues," Seminar Papers 690, Stockholm University, Institute for International Economic Studies. [Downloadable!]
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