Insider Forces And Wage Determination
AbstractThis paper attempts to assess the relative importance of firm-specific factors (i.e., insider forces) in wage determination. Using firm-level data on 219 UK companies over the period 1974-82, it finds that a 1% rise in a firm's prices or productivity relative to the aggregate economy leads to a rise in relative wages of 0.1-0.2%. As a corollary to this, outside factors such as the aggregate wage and the unemployment rate also play an important role. There is evidence for hysteresis effects based on insider forces, but these are inversely related to the extent to which firms take national agreements into account.
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Bibliographic InfoPaper provided by London School of Economics - Centre for Labour Economics in its series Papers with number 334.
Length: 39 pages
Date of creation: 1989
Date of revision:
Contact details of provider:
Postal: LONDON SCHOOL OF ECONOMICS AND POLITICAL SCIENCE, CENTER FOR LABOUR ECONOMICS, HOUGHTON STREET LONDON WC2A 2AE ENGLAND.
Phone: +44 (020) 7405 7686
Web page: http://www.lse.ac.uk/
More information through EDIRC
wages ; prices ; productivity ; unemployment;
Other versions of this item:
- Nickell, Stephen & Wadhwani, Sushil B, 1989. "Insider Forces and Wage Determination," CEPR Discussion Papers 310, C.E.P.R. Discussion Papers.
- Nickell, S. & Wadhwani, S., 1989. "Insider Forces And Wage Determination," Economics Series Working Papers 9972, University of Oxford, Department of Economics.
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