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Wage Pressure, Bargaining and Price-Cost Margins in UK Manufacturing

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  • Dowrick, Steve

Abstract

To the extent that union-employer bargaining is efficient, price-cost margins in oligopolistic industries are predicted to depend on wage rents and on the elasticity of substitution between wages and employment in union preferences. Unanticipated wage inflation will also affect margins. Cross-section and time-series analysis of price-cost margins in U.K. manufacturing industries finds that margins tend to be eroded by the level of wage rents and are invariant to the rate of wage inflation. Copyright 1990 by Blackwell Publishing Ltd.

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  • Dowrick, Steve, 1990. "Wage Pressure, Bargaining and Price-Cost Margins in UK Manufacturing," Journal of Industrial Economics, Wiley Blackwell, vol. 38(3), pages 239-267, March.
    • Handle: RePEc:bla:jindec:v:38:y:1990:i:3:p:239-67
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    Cited by:

    1. António Brandão & Joana Pinho, 2018. "Productivity Shocks in a Union‐Duopoly Model," Manchester School, University of Manchester, vol. 86(6), pages 722-756, December.
    2. Paul L. Latreille & Neil Manning, 2000. "Inter‐industry and Inter‐occupational Wage Spillovers in UK Manufacturing," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 62(1), pages 83-99, February.
    3. David Metcalf, 1993. "Industrial Relations and Economic Performance," British Journal of Industrial Relations, London School of Economics, vol. 31(2), pages 255-283, June.
    4. David Metcalf, 1993. "Transformation of British Industrial Relations? Institutions, Conduct and Outcomes 1980-1990," CEP Discussion Papers dp0151, Centre for Economic Performance, LSE.
    5. Esperanza Gracia, 1999. "Márgenes y cuotas de mercado. Un análisis con un micropanel," Investigaciones Economicas, Fundación SEPI, vol. 23(3), pages 393-428, September.
    6. Francisco Alcala, F. Israel Sancho, 2000. "Inflation and Factor Shares," UFAE and IAE Working Papers 460.00, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    7. Alan Bevan & Saul Estrin & Mark E. Schaffer, 1999. "Determinants of Enterprise Performance during Transition," CERT Discussion Papers 9903, Centre for Economic Reform and Transformation, Heriot Watt University.
    8. Metcalf, David, 1993. "Transformation of British industrial relations? Institutions, conduct and outcomes 1980-1990," LSE Research Online Documents on Economics 20981, London School of Economics and Political Science, LSE Library.
    9. James McDonald & Harry Bloch, 1999. "The Spillover Effects of Industrial Action on Firm Profitability," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 15(2), pages 183-200, September.

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