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Wage Bargaining in a Macroeconomic Model with Rationing

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  • Christopher J. Ellis
  • John Fender

Abstract

A model of a single-commodity, closed economy is constructed in which the commodity price is fixed and its market clears by quantity adjustment. The distinctive feature is that the real wage and employment are determined by bargaining between unions, representing workers and firms. There are several possible regimes, some with labor hoarding. The effects of changes in autonomous spending and the reservation wage on the endogenous variables of the model, including employment and the real wage are discussed. Some interesting possibilities emerge for the cyclical movement of productivity and the real wage.

Suggested Citation

  • Christopher J. Ellis & John Fender, 1985. "Wage Bargaining in a Macroeconomic Model with Rationing," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 100(3), pages 625-650.
    • Handle: RePEc:oup:qjecon:v:100:y:1985:i:3:p:625-650.
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    File URL: http://hdl.handle.net/10.2307/1884372
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    Cited by:

    1. Saglam, Ismail, 2023. "Exploitation of Collective Bargaining in the Labor Market," MPRA Paper 117588, University Library of Munich, Germany.
    2. Sneessens, Henri R., 1992. "Contraintes de débouchés, capacités de production et chômage dans un modèle macroéconomique avec concurrence imparfaite," L'Actualité Economique, Société Canadienne de Science Economique, vol. 68(1), pages 140-174, mars et j.
    3. Pierre Cahuc, 1990. "La théorie des négociations salariales : une revue de la littérature," Économie et Prévision, Programme National Persée, vol. 92(1), pages 21-30.
    4. Pierre Cahuc, 1988. "Équilibres non walrasiens et négociations salariales," Revue Économique, Programme National Persée, vol. 39(4), pages 705-724.
    5. Commander, Simon & Staehr, Karsten, 1991. "The determination of wages in socialist economies : some microfoundations," Policy Research Working Paper Series 713, The World Bank.

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