An equation for earnings is derived from the assumption that wage increases are determined in a process of negotiation bet ween union and firm. The union is taken to be concerned about real wa ge, the firm about its real profit. The goods market is perfectly com petitive. The empirical work supported the hypothesis. The data sugge sted that employees' concerns have more influence on the outcome than employers'. The levels of profits and the real wage both played a ro le in explaining wage increases. The change in unemployment was found relevant to the outcome as well as the level. Copyright 1987 by Blackwell Publishing Ltd
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Volume (Year): 49 (1987) Issue (Month): 4 (November) Pages: 347-72 Download reference. The following formats are available: HTML
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David G. Blanchflower & Andrew J. Oswald & Mario D. Garrett, 1990.
"Insider Power in Wage Determination,"
NBER Working Papers
3179, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Blanchflower, David G & Oswald, Andrew J & Garrett, Mario D, 1990.
"Insider Power in Wage Determination,"
Economica,
London School of Economics and Political Science, vol. 57(226), pages 143-70, May.
[Downloadable!] (restricted)
David G. Blanchflower & Andrew J. Oswald, 1990.
"The Wage Curve,"
NBER Working Papers
3181, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Blanchflower, D. & Oswald, A., 1989.
"The Wage Curve,"
Papers
340, London School of Economics - Centre for Labour Economics.
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