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Wages

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  • Stephen Nickell
  • D Nicolitsas

Abstract

Empirical analyses of longitudinal data on some 66 manufacturing companies on Britain lead us to the following three conclusions. First, agreed reductions in restrictive work practices lead to increases in productivity. Second, controlling for such agreed reductions, there is some weak evidence that both relative pay and aggregate labour market slack have some positive impact on productivity. Third, falls in market share or declines in the financial health of companies lead to both lower pay rises and reductions in restrictive practices.

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Paper provided by Centre for Economic Performance, LSE in its series CEP Discussion Papers with number dp0219.

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Date of creation: Dec 1994
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Handle: RePEc:cep:cepdps:dp0219

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

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  1. Stewart, Mark B, 1990. "Union Wage Differentials, Product Market Influences and the Division of Rents," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 100(403), pages 1122-37, December.
  2. Geroski, P A, 1990. "Innovation, Technological Opportunity, and Market Structure," Oxford Economic Papers, Oxford University Press, vol. 42(3), pages 586-602, July.
  3. Oster, Gerry, 1980. "Labour Relations and Demand Relations: A Case Study of the 'Unemployment Effect.'," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 4(4), pages 337-48, December.
  4. Robert E. Hall, 1986. "Market Structure and Macroeconomic Fluctuations," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 17(2), pages 285-338.
  5. Nickell, Stephen & Wadhwani, Sushil B, 1989. "Insider Forces and Wage Determination," CEPR Discussion Papers, C.E.P.R. Discussion Papers 310, C.E.P.R. Discussion Papers.
  6. Stephen Nickell, 1993. "Competition and Corporate Performance," CEP Discussion Papers, Centre for Economic Performance, LSE dp0182, Centre for Economic Performance, LSE.
  7. Rebitzer, James B, 1988. "Unemployment, Labor Relations, and Unit Labor Costs," American Economic Review, American Economic Association, American Economic Association, vol. 78(2), pages 389-94, May.
  8. Nickell, Stephen & Wadhwani, Sushil, 1991. "Employment Determination in British Industry: Investigations Using Micro-data," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 58(5), pages 955-69, October.
  9. Konings, Jozef & Walsh, Patrick P, 1994. "Evidence of Efficiency Wage Payments in UK Firm Level Panel Data," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 104(424), pages 542-55, May.
  10. Muellbauer, John, 1984. "Aggregate Production Functions and Productivity Measurement: A New Look," CEPR Discussion Papers, C.E.P.R. Discussion Papers 34, C.E.P.R. Discussion Papers.
  11. Wadhwani, Sushil B & Wall, Martin, 1991. "A Direct Test of the Efficiency Wage Model Using UK Micro-data," Oxford Economic Papers, Oxford University Press, vol. 43(4), pages 529-48, October.
  12. Oswald, Andrew J & Turnbull, Peter J, 1985. "Pay and Employment Determination in Britain: What Are Labour," Oxford Review of Economic Policy, Oxford University Press, Oxford University Press, vol. 1(2), pages 80-97, Summer.
  13. Wadhwani, Sushil & Wall, Martin, 1986. "The UK Capital Stock--New Estimates of Premature Scrapping," Oxford Review of Economic Policy, Oxford University Press, Oxford University Press, vol. 2(3), pages 44-55, Autumn.
  14. Stephen Nickell & J Vainiomaki & S Wadhwani, 1992. "Wages, Unions, Insiders and Product Market Power," CEP Discussion Papers, Centre for Economic Performance, LSE dp0077, Centre for Economic Performance, LSE.
  15. Levine, David I, 1992. "Can Wage Increases Pay for Themselves? Tests with a Production Function," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 102(414), pages 1102-15, September.
  16. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 58(2), pages 277-97, April.
  17. Shapiro, Carl & Stiglitz, Joseph E, 1984. "Equilibrium Unemployment as a Worker Discipline Device," American Economic Review, American Economic Association, American Economic Association, vol. 74(3), pages 433-44, June.
  18. Veugelers, Reinhilde, 1989. "Wage premia, price-cost margins and bargaining power in Belgian manufacturing," European Economic Review, Elsevier, Elsevier, vol. 33(1), pages 169-180, January.
  19. Green, Francis & Weisskopf, Thomas E, 1990. "The Worker Discipline Effect: A Disaggregative Analysis," The Review of Economics and Statistics, MIT Press, vol. 72(2), pages 241-49, May.
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