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Testing Between Alternative Wage-Employment Bargaining Models Using Belgian Aggreggate Data

Author

Listed:
  • Vannetelbosch, Vincent J.

    (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES))

Abstract

In this paper, I discriminate among alternative models of bargaining for wages and employment (right-to-manage, efficient bargaining and general bargaining models) using Belgian aggregate data. I estimate the ECM representation of a dynamic employment equation for each model using Engle-Granger’s two-step estimation procedure. I use Phillips-Hansen’s FME to obtain long-run parameters’ estimators which are optimal and asymptotically normally distributed. On the basis of non-nested tests, both the right-to-manage and the hypothesis that wage-employment negotiations are efficient are ejected in favour of the general bargaining model where outcomes are inefficient.

Suggested Citation

  • Vannetelbosch, Vincent J., 1993. "Testing Between Alternative Wage-Employment Bargaining Models Using Belgian Aggreggate Data," LIDAM Discussion Papers IRES 1994012, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES), revised 27 Apr 1994.
    • Handle: RePEc:ctl:louvir:1994012
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    More about this item

    Keywords

    wages; bargaining; cointegration; non-nested tests;
    All these keywords.

    JEL classification:

    • J50 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - General
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection

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