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Centralized Wage Setting, Wage Drift and Stabilization Policies under Trade Unionism

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Author Info

  • Holmlund, Bertil

    (Research Institute of Industrial Economics (IFN))

Abstract

This paper analyzes union behavior in a model w ith uncertainty aboutaggregate labor demand. When uncertainty is resolved, the labor market may be in excess demand or excess supply at the preset contractual wage. Wage drift occurs if excess demand is realized and the union's wage demand takes this into account. Stabilization policyinvolves government hirings in go od times and firings in bad ones. Public employment expansion in slumps increase s the union's wage demand. More surprisingly, a contraction of public employment in goodtimes will also produce a higher contractual wage. Copyright 1986 by Royal Economic Society.

(This abstract was borrowed from another version of this item.)

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Bibliographic Info

Paper provided by Research Institute of Industrial Economics in its series Working Paper Series with number 147.

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Length: 34 pages
Date of creation: Sep 1985
Date of revision:
Handle: RePEc:hhs:iuiwop:0147

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Postal: Research Institute of Industrial Economics, Box 55665, SE-102 15 Stockholm, Sweden
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Web page: http://www.ifn.se/
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Related research

Keywords: Trade unions; wage setting; wage drift; uncertainty;

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References

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  1. Pencavel, John, 1985. " Wages and Employment under Trade Unionism: Microeconomic Models and Macroeconomic Applications," Scandinavian Journal of Economics, Wiley Blackwell, vol. 87(2), pages 197-225.
  2. Calmfors, Lars & Horn, Henrik, 1985. " Classical Unemployment, Accommodation Policies and Adjustment of Real Wages," Scandinavian Journal of Economics, Wiley Blackwell, vol. 87(2), pages 234-61.
  3. Oswald, Andrew J., 1982. "Uncertainty and the trade union," Economics Letters, Elsevier, vol. 9(1), pages 105-111.
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Cited by:
  1. Ohlsson, H., 1990. "Job Creation Measures As Activist Fiscal Policy: An Empirical Analysis Of Policy Reaction Behavior," Papers 1990d, Uppsala - Working Paper Series.

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