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Centralized Wage Setting, Wage Drift and Stabilization Policies under Trade Unionism

  • Holmlund, Bertil

    (Research Institute of Industrial Economics (IFN))

This paper analyzes union behavior in a model w ith uncertainty aboutaggregate labor demand. When uncertainty is resolved, the labor market may be in excess demand or excess supply at the preset contractual wage. Wage drift occurs if excess demand is realized and the union's wage demand takes this into account. Stabilization policyinvolves government hirings in go od times and firings in bad ones. Public employment expansion in slumps increase s the union's wage demand. More surprisingly, a contraction of public employment in goodtimes will also produce a higher contractual wage. Copyright 1986 by Royal Economic Society.

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Paper provided by Research Institute of Industrial Economics in its series Working Paper Series with number 147.

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Length: 34 pages
Date of creation: Sep 1985
Date of revision:
Handle: RePEc:hhs:iuiwop:0147
Contact details of provider: Postal: Research Institute of Industrial Economics, Box 55665, SE-102 15 Stockholm, Sweden
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  1. Calmfors, Lars & Horn, Henrik, 1985. " Classical Unemployment, Accommodation Policies and Adjustment of Real Wages," Scandinavian Journal of Economics, Wiley Blackwell, vol. 87(2), pages 234-61.
  2. Oswald, Andrew J., 1982. "Uncertainty and the trade union," Economics Letters, Elsevier, vol. 9(1), pages 105-111.
  3. Pencavel, John, 1985. " Wages and Employment under Trade Unionism: Microeconomic Models and Macroeconomic Applications," Scandinavian Journal of Economics, Wiley Blackwell, vol. 87(2), pages 197-225.
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