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Wage formation and bargaining power during the Great Depression.

Abstract:

We present an econometric analysis of wage behaviour in Norway during the interwar years. The analysis is based on a panel of manufacturing industry data using GMM estimation methods. Our empirical analysis shows that wage formation in the interwar period can be understood with the help of modern bargaining theory and well-established wage equations. We estimate a long-run wage curve that has all the standard features of being homogeneous in prices, proportional to productivity, and with a ne...

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Publication status:
Published
Peer review status:
Peer reviewed
Version:
Accepted Manuscript

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Publisher copy:
10.1111/j.1467-9442.2009.01599.x

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Institution:
University of Oxford
Role:
Author
Publisher:
Blackwell Publishing
Journal:
Scandinavian Journal of Economics Journal website
Volume:
112
Issue:
1
Publication date:
2010-01-01
DOI:
URN:
uuid:6b0c673d-e6f1-456d-bb49-391fc78735f5
Local pid:
oai:economics.ouls.ox.ac.uk:14973
Language:
English

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