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Sliding Scales and Conciliation Boards: Risk-Sharing in the Late 19th Century British Coal Industry

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  • Treble, John G

Abstract

A measure of the extent to which exogenous risk is passed on by a firm to its workers is developed and applied to data derived from two wage-payment regimes in late nineteenth-century Britain. It is f ound that, despite superficial similarities between the two regimes, the conciliation boards provided workers with a substantial degree of insurance against the effect of fluctuations in the output market in the sense that the wage rate was effectively fixed. Copyright 1987 by Royal Economic Society.

Suggested Citation

  • Treble, John G, 1987. "Sliding Scales and Conciliation Boards: Risk-Sharing in the Late 19th Century British Coal Industry," Oxford Economic Papers, Oxford University Press, vol. 39(4), pages 679-698, December.
    • Handle: RePEc:oup:oxecpp:v:39:y:1987:i:4:p:679-98
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    Cited by:

    1. Hanes, Christopher, 2010. "The rise and fall of the sliding scale, or why wages are no longer indexed to product prices," Explorations in Economic History, Elsevier, vol. 47(1), pages 49-67, January.

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