Wages, Taxes and the Utility-Maximizing Trade Union: A Confrontationwith Norwegian Data
AbstractThis paper estimates a model of wage formation where the central assumptions are: (1) exce pt for a random error term, the aggregate wage level is determined by a single t rade union; (2) union utility depends on the real disposable wage and on employm ent; and (3) firmsdetermine employment and react to wage increases by reducing employment. The purpose is to see whether such a theory can be made operational and whether the model can be made to fit reasonably well with Norwegian data (19 62-82). Results are mixed and do not give much support to the approach taken, bu t several possibilities for further refinement remain. Copyright 1986 by Royal Economic Society.
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Bibliographic InfoArticle provided by Oxford University Press in its journal Oxford Economic Papers.
Volume (Year): 38 (1986)
Issue (Month): 3 (November)
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- Forslund, Anders & Gottfries, Nils & Westermark, Andreas, 2005.
"Real and nominal wage adjustment in open economies,"
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2005:23, IFAU - Institute for Evaluation of Labour Market and Education Policy.
- Anders Forslund & Nils Gottfries & Andreas Westermark, 2006. "Real and Nominal Wage Adjustment in Open Economies," CESifo Working Paper Series 1649, CESifo Group Munich.
- Forslund, Anders & Gottfries, Nils & Westermark, Andreas, 2005. "Real and Nominal Wage Adjustment in Open Economies," Working Paper Series 2005:18, Uppsala University, Department of Economics.
- David G. Blanchflower & Andrew J. Oswald, 1995.
"The Wage Curve,"
MIT Press Books,
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edition 1, volume 1, number 026202375x, December.
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