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Legislative profits and the rate of change of money wages: A graphical exposition

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  • Manfred Gärtner

Abstract

A public choice model of union wage bargaining behavior has led to the hypotheses that money wage growth rates crucially depend on government ideology and vary rhythmically with election dates. This provides another link between the economy and the polity in Western-type democracies which apparently has been neglected so far. The hypotheses were supported by a time series analysis of negotiated money wage growth rates in postwar West Germany. Finally, after a graphical presentation of the empirical results, the implications of this paper's findings for politicoeconomic modelling, wage theory, macroeconomic theory and policy, and industrial relations theory were briefly discussed. Copyright Martinus Nijhoff Publishers b.v. 1979

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  • Manfred Gärtner, 1979. "Legislative profits and the rate of change of money wages: A graphical exposition," Public Choice, Springer, vol. 34(3), pages 365-380, September.
    • Handle: RePEc:kap:pubcho:v:34:y:1979:i:3:p:365-380
    DOI: 10.1007/BF00225675
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    References listed on IDEAS

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    1. Wright, Gavin, 1974. "The Political Economy of New Deal Spending: An Econometric Analysis," The Review of Economics and Statistics, MIT Press, vol. 56(1), pages 30-38, February.
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    3. Frey, Bruno S., 1978. "Politico-economic models and cycles," Journal of Public Economics, Elsevier, vol. 9(2), pages 203-220, April.
    4. Pommerehne, Werner W., 1978. "Institutional approaches to public expenditure : Empirical evidence from Swiss municipalities," Journal of Public Economics, Elsevier, vol. 9(2), pages 255-280, April.
    5. J. R. Hicks, 1963. "The Theory of Wages," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-00189-7.
    6. Uri Ben-Zion & Zeev Eytan, 1974. "On money, votes, and policy in a democratic society," Public Choice, Springer, vol. 17(1), pages 1-10, March.
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