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http://hdl.handle.net/1893/10234| 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 |
| Contact Email: | david.blanchflower@stir.ac.uk |
| Keywords: | bargaining power insider power labour market wage determination workers |
| 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. https://doi.org/10.2307/2554158 |
| 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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