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What Are the Factors Behind Pay Settlements? Evidence from Spanish and British Data

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Author Info

  • Bayo-Moriones, Alberto

    ()
    (University of Navarra)

  • Galdon-Sanchez, Jose Enrique

    ()
    (Universidad Pública de Navarra)

  • Martinez-de-Morentin, Sara

    ()
    (Universidad Pública de Navarra)

Abstract

This article presents a study of the determinants of pay settlements in a sample of Spanish and British establishments. We find that variables such as establishment size and age, foreign ownership, labour costs, the existence of internal labour markets, a strategic approach to human resource management and pay setting institutions are related to the factors that shape pay adjustments. Moreover, our findings show that there are significant differences in the determinants of pay settlements between Spain and Great Britain. We suggest that the labour market institutions developed in each country influence pay setting decisions.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 3401.

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Length: 38 pages
Date of creation: Mar 2008
Date of revision:
Publication status: published as 'The Determinants of Pay Settlements. The Influence of the National Context' in: The International Journal of Human Resource Management, 2013, 24 (3), 579-600
Handle: RePEc:iza:izadps:dp3401

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Keywords: establishment level data; compensation systems; labor market institutions; wage settlements;

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  1. Robert E. Hall, 1984. "The Importance of Lifetime Jobs in the U.S. Economy," NBER Working Papers 0560, National Bureau of Economic Research, Inc.
  2. Oi, Walter Y. & Idson, Todd L., 1999. "Firm size and wages," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 33, pages 2165-2214 Elsevier.
  3. Jane Morton & W. S. Siebert, 2001. "Labour Market Regimes and Worker Recruitment and Retention in the European Union: Plant Comparisons," British Journal of Industrial Relations, London School of Economics, vol. 39(4), pages 505-528, December.
  4. Schmidt, Christoph M & Zimmermann, Klaus F, 1991. "Work Characteristics, Firm Size and Wages," The Review of Economics and Statistics, MIT Press, vol. 73(4), pages 705-10, November.
  5. Charles Brown & James L. Medoff, 2003. "Firm Age and Wages," Journal of Labor Economics, University of Chicago Press, vol. 21(3), pages 677-698, July.
  6. John Forth, Alex Bryson & Alex Bryson, 2006. "The Theory and Practice of Pay Setting," NIESR Discussion Papers 285, National Institute of Economic and Social Research.
  7. Mahmood Arai, 2003. "Wages, Profits, and Capital Intensity: Evidence from Matched Worker-Firm Data," Journal of Labor Economics, University of Chicago Press, vol. 21(3), pages 593-618, July.
  8. Thierry Lallemand & Robert Plasman & François Rycx, 2005. "Why do large firms pay higher wages? evidence from matched worker-firm data," ULB Institutional Repository 2013/8743, ULB -- Universite Libre de Bruxelles.
  9. Kerstin Hamann & John Kelly, 2003. "The Domestic Sources of Differences in Labour Market Policies," British Journal of Industrial Relations, London School of Economics, vol. 41(4), pages 639-663, December.
  10. Robert Plasman & Michael Rusinek & François Rycx, 2007. "Wages and the bargaining regime under multi-level bargaining: Belgium, Denmark and Spain," ULB Institutional Repository 2013/9777, ULB -- Universite Libre de Bruxelles.
  11. Donna Brown & Peter Ingram & Jonathan Wadsworth, 2004. "The Price is Right? Pay Settlements and Nominal Wage Rigidity in Britain," British Journal of Industrial Relations, London School of Economics, vol. 42(3), pages 507-525, 09.
  12. Cardoso, Ana Rute & Portugal, Pedro, 2003. "Bargained Wages, Wage Drift and the Design of the Wage Setting System," IZA Discussion Papers 914, Institute for the Study of Labor (IZA).
  13. Juan Francisco Canal Domínguez & César Rodríguez Gutiérrez, 2004. "Collective Bargaining and Within-firm Wage Dispersion in Spain," British Journal of Industrial Relations, London School of Economics, vol. 42(3), pages 481-506, 09.
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