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The wage-wage-...-wage-profit relation in a multisector bargaining economy

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Author Info
A. J. Julius (New School University)
Abstract

The equalization of profit rates across a multisector production economy subject to Nash bargaining over wages supports an industry wage structure like those that account for a large fraction of actual wage dispersion and a wage-wage-...-wage-profit surface on which the general profit rate can vary inversely or directly with the wage paid in a given industry. Institutional changes that compress or decompress the wage distribution depend for support on industrially specific cross-class coalitions of workers and capitalists. Technical changes that raise capitalists' profits in current prices can lower the equilibrium profit rate.

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File URL: http://129.3.20.41/eps/ge/papers/0501/0501003.pdf
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Paper provided by EconWPA in its series GE, Growth, Math methods with number 0501003.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 31 pages
Date of creation: 21 Jan 2005
Date of revision:
Handle: RePEc:wpa:wuwpge:0501003

Note: Type of Document - pdf; pages: 31
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Web page: http://129.3.20.41

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Related research
Keywords: Wage-profit relation; prices of production; wage dispersion; bargaining; technical change;

Find related papers by JEL classification:
D5 - Microeconomics - - General Equilibrium and Disequilibrium
D33 - Microeconomics - - Distribution - - - Factor Income Distribution
J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
O31 - Economic Development, Technological Change, and Growth - - Technological Change - - - Innovation and Invention: Processes and Incentives

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Krueger, Alan B & Summers, Lawrence H, 1988. "Efficiency Wages and the Inter-industry Wage Structure," Econometrica, Econometric Society, vol. 56(2), pages 259-93, March. [Downloadable!] (restricted)
  2. 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. [Downloadable!]
    Other versions:
  3. Gittleman, Maury & Wolff, Edward N, 1993. "International Comparisons of Inter-industry Wage Differentials," Review of Income and Wealth, Blackwell Publishing, vol. 39(3), pages 295-312, September.
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This page was last updated on 2009-12-21.

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