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 University of Oxford, Department of Economics in its series Economics Series Working Papers with number 9972.
Length: 33 pages
Date of creation: 1989
Date of revision:
wages ; enterprises ; demand ; labour market;
Other versions of this item:
- 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.
- Nickell, S. & Wadhwani, S., 1989. "Insider Forces And Wage Determination," Papers, London School of Economics - Centre for Labour Economics 334, London School of Economics - Centre for Labour Economics.
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