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Appears in Collections:Economics Journal Articles
Peer Review Status: Refereed
Title: Insider power in wage determination
Author(s): Blanchflower, David
Oswald, Andrew J
Garrett, Mario D
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Keywords: bargaining power
insider power
labour market
wage determination
Issue Date: May-1990
Date Deposited: 13-Dec-2012
Citation: Blanchflower D, Oswald AJ & Garrett MD (1990) Insider power in wage determination. Economica, 57 (226), pp. 143-170.
Abstract: The paper argues that wage determination is best seen as a kind of rent-sharing in which workers' bargaining power is influenced by conditions in the external labour market. It uses British establishment data from 1984 to show that pay depends upon a blend of insider pressure (including the employer's financial performance and oligopolistic position) and outsider pressure (including external wages and unemployment). Lester's feasible "range" of wages appears typically to be between 8 and 22% of pay. Estimates of the unemployment elasticity of the wage lie in a narrow band around -0.1.
DOI Link: 10.2307/2554158
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