The wage-wage-...-wage-profit relation in a multisector bargaining economy
The equalization of profit rates across a multisector production economy subject to Nash bargaining over wages supports an industry wage structure like those that account for a large fraction of actual wage dispersion and a wage-wage-...-wage-profit surface on which the general profit rate can vary inversely or directly with the wage paid in a given industry. Institutional changes that compress or decompress the wage distribution depend for support on industrially specific cross-class coalitions of workers and capitalists. Technical changes that raise capitalists' profits in current prices can lower the equilibrium profit rate.
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- Gilbert L. Skillman, 1997. "Technical Change and the Equilibrium Profit Rate in a Market with Sequential Bargaining," Metroeconomica, Wiley Blackwell, vol. 48(3), pages 238-261, October.
- Kurz,Heinz D. & Salvadori,Neri, 1997.
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Cambridge University Press, number 9780521588676, February.
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- Burgstaller,Andre, 1994. "Property and Prices," Cambridge Books, Cambridge University Press, number 9780521419031.
- Mahmood Arai, 2003. "Wages, Profits, and Capital Intensity: Evidence from Matched Worker-Firm Data," Journal of Labor Economics, University of Chicago Press, vol. 21(3), pages 593-618, July.
- Arai, Mahmood, 1999. "Wages, Profits and Capital Intensity: Evidence from Matched Worker-Firm Data," Research Papers in Economics 1999:3, Stockholm University, Department of Economics.
- Krueger, Alan B & Summers, Lawrence H, 1988. "Efficiency Wages and the Inter-industry Wage Structure," Econometrica, Econometric Society, vol. 56(2), pages 259-293, March.
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- Reiner Franke, 1999. "Technical Change and a Falling Wage Share if Profits are Maintained," Metroeconomica, Wiley Blackwell, vol. 50(1), pages 35-53, 02. Full references (including those not matched with items on IDEAS)
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