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Wages, Unions, Insiders and Product Market Power

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  • Stephen Nickell
  • J Vainiomaki
  • S Wadhwani

Abstract

This paper analyses time series data on some 800 British manufacturing companies to address various questions concerning the role of insiders and market power in wage determination. The following are the important results. First, firm specific factors such as productivity gains do influence wage increases. Second, there is no robust evidence of insider power at wok in wage setting. Third, conditions in the external labour market are a very important influence on company wages, although less so for firms with a high degree of market power. Finally, product market power itself has a positive impact on wages, which is enhanced in large firms but is not influenced by union status.

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Bibliographic Info

Paper provided by Centre for Economic Performance, LSE in its series CEP Discussion Papers with number dp0077.

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Date of creation: May 1992
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Handle: RePEc:cep:cepdps:dp0077

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Web page: http://cep.lse.ac.uk/_new/publications/series.asp?prog=CEP

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Cited by:
  1. Wolfgang Ochel, 2001. "Geht der Einfluss der Gewerkschaften auf die Lohnbildung international zurück?," Ifo Schnelldienst, Ifo Institute for Economic Research at the University of Munich, vol. 54(05), pages 44-46, October.
  2. Stephen Nickell & D. Nicolitsas, 1994. "Wages," LSE Research Online Documents on Economics 51644, London School of Economics and Political Science, LSE Library.
  3. Stephen Nickell & D. Nicolitsas, 1994. "Wages, effort and productivity," LSE Research Online Documents on Economics 20794, London School of Economics and Political Science, LSE Library.
  4. Destefanis, Sergio & Mastromatteo, Giuseppe, 2010. "Wage Inequality and Labour-market Performance. A Role for Corporate Social Responsibility - Disuguaglianza salariale e performance del mercato del lavoro," Economia Internazionale / International Economics, Camera di Commercio di Genova, vol. 63(1), pages 91-120.

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