The wage structure theory in this paper has three levels: (1) The micro level considers the relative wage (income) r between two groups. One r, termed r*, is a conflict equilibrium that also gives the minimum number of conflicts. The deviation of r from r* is the labor-market tension. (2) These concepts are shown to generalize to the macro level, leading to a macro conflict relation and a conflict-augmented Phillips curve. (3) Institutions are introduced into the theory, and it is shown how a central trade union reduces the number of conflicts by internalizing parts of the wage structure. Copyright 1989 by The editors of the Scandinavian Journal of Economics.
Download Info
To our knowledge, this item is not available for
download. To find whether it is available, there are three
options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page
whether it is in fact available.
3. Perform a search for a similarly titled item that would be
available.