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Theories of Pay and Unemployment: Survey Evidence from Swedish Manufacturing Firms

Author

Listed:
  • Agell, J.
  • Lundborg, P.

Abstract

An interview survey was designed to explore how personnel managers and senior wage negotiators respond to popular models of the labor market. As in A. S. Blinder and D. H. Choi (1990), the authors' results indicate that relative wages and notions of fairness are important, and that this may explain nominal wage rigidity. The authors find much evidence of efficiency wage mechanisms. The reactions to some questions also point to theories based on rent-sharing. Moreover, while underbidding is not that uncommon, firms seem quite unwilling to hire underbidders. The authors also obtain indications of adverse selection problems. Copyright 1995 by The editors of the Scandinavian Journal of Economics.
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Suggested Citation

  • Agell, J. & Lundborg, P., 1992. "Theories of Pay and Unemployment: Survey Evidence from Swedish Manufacturing Firms," Papers 1993-8, Uppsala - Working Paper Series.
    • Handle: RePEc:fth:uppaal:1993-8
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    Citations

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    Cited by:

    1. Jonas Agell & Per Lundborg, 2003. "Survey Evidence on Wage Rigidity and Unemployment: Sweden in the 1990s," Scandinavian Journal of Economics, Wiley Blackwell, vol. 105(1), pages 15-30, March.
    2. Pedro Rey Biel, 2005. "Equilibrium Play and Best Response in Sequential Constant Sum Games," Experimental 0506004, University Library of Munich, Germany.
    3. Smith, Jennifer C., 2002. "Pay Cuts And Morale : A Test Of Downward Nominal Rigidity," The Warwick Economics Research Paper Series (TWERPS) 649, University of Warwick, Department of Economics.
    4. Marianna Cervena, 2012. "Base Wage Rigidities: Evidence From a Survey of Slovak Firms," Working and Discussion Papers WP 3/2012, Research Department, National Bank of Slovakia.
    5. Steven J. Davis & Magnus Henrekson, 1997. "Industrial Policy, Employer Size, and Economic Performance in Sweden," NBER Chapters, in: The Welfare State in Transition: Reforming the Swedish Model, pages 353-398, National Bureau of Economic Research, Inc.
    6. Agell, Jonas & Lundborg, Per, 1999. "Survey Evidence on Wage Rigidity: Sweden in the 1990s," Working Paper Series 154, Trade Union Institute for Economic Research.
    7. Pedro Rey‐Biel, 2008. "Inequity Aversion and Team Incentives," Scandinavian Journal of Economics, Wiley Blackwell, vol. 110(2), pages 297-320, June.
    8. Andersson, Fredrik, 1999. "Job flows in Swedish manufacturing 1972-1996," Working Paper Series 1999:4, IFAU - Institute for Evaluation of Labour Market and Education Policy.
    9. M. Ali Choudhary & Saima Mahmood & Sajawal Khan & Waqas Ahmed & Gylfi Zoega, 2013. "Sticky Wages in a Developing Country: Lessons from Structured Interviews in Pakistan," School of Economics Discussion Papers 0213, School of Economics, University of Surrey.
    10. Kåre Johansen & Bjarne Strøm, 2001. "Efficiency Wages, Interfirm Comparison, and Unemployment," Southern Economic Journal, John Wiley & Sons, vol. 68(2), pages 387-402, October.
    11. repec:eee:labchp:v:3:y:1999:i:pb:p:2291-2372 is not listed on IDEAS
    12. Joanna Tyrowicz, 2009. "When Eastern Labour Markets Enter Western Europe CEECs. Labour Market Institutions upon Euro Zone Accession," Working Papers 2009-03, Faculty of Economic Sciences, University of Warsaw.
    13. Lundborg, Per, 2005. "Wage rigidity and tax structure," Economics Letters, Elsevier, vol. 86(3), pages 297-301, March.
    14. Peter Mühlau & Siegwart Lindenberg, 2003. "Efficiency Wages: Signals or Incentives An Empirical Study of the Relationship between Wage and Commitment," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 7(4), pages 385-400, December.

    More about this item

    Keywords

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    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General

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