IDEAS home Printed from https://ideas.repec.org/a/oup/qjecon/v76y1962i3p379-414..html
   My bibliography  Save this article

The Determination of Money Wages in American Industry

Author

Listed:
  • Otto Eckstein
  • Thomas A. Wilson

Abstract

Issues in wage determination, 379. — Hypothesis 1 (institutional): wage rates are set by a bargaining process, 381. — Hypothesis 2 (economic): both product and labor market factors influence wage determination, 381. — Hypothesis 3 (economic): two variables, profit and unemployment rates, are sufficient to explain most of the variation in the rate of increase of wage rates, 383. — Hypothesis 4 (institutional): wage determination in a group of heavy industries is interdependent, 384. — Hypothesis 5 (institutional): wages are determined in wage rounds, 386. — The central result on wages: wage determination in the key group, 388. — Some supporting evidence: time series for individual industries within the key group, 390. — The significance of other variables — productivity, 392; consumer prices, 392. — Wage determination outside the key group, 394. — Results of cross-section analysis, 397. — Reconciliation of time series and cross-section results, 401. — Relation to previous empirical results, 402. — Is there a Phillips curve for the United States? 406. — Extrapolation of the central result, 406. — Summary and concluding comment, 408. — Appendix I. The derivation of the central result, 409. — Appendix II. The construction of unemployment estimates for two-digit industries, 413.

Suggested Citation

  • Otto Eckstein & Thomas A. Wilson, 1962. "The Determination of Money Wages in American Industry," The Quarterly Journal of Economics, Oxford University Press, vol. 76(3), pages 379-414.
  • Handle: RePEc:oup:qjecon:v:76:y:1962:i:3:p:379-414.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.2307/1879627
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Roger E. Brinner, 1999. "Is inflation dead?," New England Economic Review, Federal Reserve Bank of Boston, issue Jan, pages 37-49.
    2. Niloy Bose & Jill A. Holman & Kyriakos C. Neanidis, 2007. "The Optimal Public Expenditure Financing Policy: Does The Level Of Economic Development Matter?," Economic Inquiry, Western Economic Association International, vol. 45(3), pages 433-452, July.
    3. Orlando Gomes, 2017. "Heterogeneous wage setting and endogenous macro volatility," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 12(1), pages 27-57, April.
    4. Sparks, Gordon R & Wilton, David A, 1971. "Determinants of Negotiated Wage Increases: An Empirical Analysis," Econometrica, Econometric Society, vol. 39(5), pages 739-750, September.
    5. Robert Boyer & Jean-Pascal Benassy & Rosa-Maria Gelpi, 1979. "Régulation des économies capitalistes et inflation," Revue Économique, Programme National Persée, vol. 30(3), pages 397-441.
    6. DREGER, Christian & REIMERS, Hans-Eggert, 2011. "On The Role Of Sectoral And National Wage Components In The Wage Bargaining Process," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 11(1).
    7. Kuhn, Peter & Gu, Wulong, 1999. "Learning in Sequential Wage Negotiations: Theory and Evidence," Journal of Labor Economics, University of Chicago Press, vol. 17(1), pages 109-140, January.
    8. David A. Wilton, 1969. "An Econometric Model of the Canadian Automobile Manufacturing Industry," Working Paper 14, Economics Department, Queen's University.
    9. Charles Holt & Martin David, 1966. "The Concept of Job Vacancies in a Dynamic Theory of the Labor Market," NBER Chapters, in: The Measurement and Interpretation of Job Vacancies, pages 73-110, National Bureau of Economic Research, Inc.
    10. Ahmad Al-Samarrie & John Kraft & Blaine Roberts, 1977. "The Effects of Phases I, II, and III on Wages, Prices, and Profit Margins in the Manufacturing Sector of the United States," NBER Chapters, in: Analysis of Inflation: 1965–1974, pages 241-298, National Bureau of Economic Research, Inc.
    11. John H. Pencavel, 1984. "The Tradeoff Between Wages and Employment in Trade Union Objectives," The Quarterly Journal of Economics, Oxford University Press, vol. 99(2), pages 215-231.
    12. Wolfgang Pollan, 1980. "Wage rigidity and the structure of the Austrian manufacturing industry," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 116(4), pages 697-728, December.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:qjecon:v:76:y:1962:i:3:p:379-414.. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.