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Wages, Unions, Insiders and Product Market Power

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Abstract

This paper analyses time series data on some 800 British manufacturing companies to address various questions concerning the role of insiders and market power in wage determination. The following are the important results. First, firm specific factors such as productivity gains do influence wage increases. Second, there is no robust evidence of insider power at wok in wage setting. Third, conditions in the external labour market are a very important influence on company wages, although less so for firms with a high degree of market power. Finally, product market power itself has a positive impact on wages, which is enhanced in large firms but is not influenced by union status.

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  • Stephen Nickell & J Vainiomaki & S Wadhwani, 1992. "Wages, Unions, Insiders and Product Market Power," CEP Discussion Papers dp0077, Centre for Economic Performance, LSE.
    • Handle: RePEc:cep:cepdps:dp0077
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    Cited by:

    1. Stephen Nickell & D Nicolitsas, 1994. "Wages," CEP Discussion Papers dp0219, Centre for Economic Performance, LSE.
    2. Wolfgang Ochel, 2001. "Is union influence on wage formation waning worldwide?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 54(05), pages 44-46, October.
    3. repec:eee:labchp:v:3:y:1999:i:pc:p:3029-3084 is not listed on IDEAS
    4. Hyun-Ju Koh & Ferdinand Mittermaier, 2009. "The winner gives it all: Unions, tax competition and offshoring," Working Papers 079, Bavarian Graduate Program in Economics (BGPE).
    5. Destefanis, Sergio & Mastromatteo, Giuseppe, 2010. "Wage Inequality and Labour-market Performance. A Role for Corporate Social Responsibility - Disuguaglianza salariale e performance del mercato del lavoro," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 63(1), pages 91-120.
    6. Nickell, Stephen & Nicolitsas, D., 1994. "Wages, effort and productivity," LSE Research Online Documents on Economics 20794, London School of Economics and Political Science, LSE Library.
    7. Dinand Webbink & Pierre Koning & Sunčica Vujić & Nicholas G. Martin, 2013. "Why Are Criminals Less Educated than Non-Criminals? Evidence from a Cohort of Young Australian Twins," Journal of Law, Economics, and Organization, Oxford University Press, vol. 29(1), pages 115-144, February.

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