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Insider Forces and Wage Determination.

Abstract:

This paper investigates the relative importance of firm-specific factors (i.e., insider forces) in wage determination. Using firm-level data on 219 U.K. companies over 1974-82, it finds that a 1 percent rise in a firm's prices or productivity relative to the aggregate economy leads to a rise in relative wages of 0.1-0.2 percent. As a corollary to this, outside factors, like the aggregate wage and the unemployment rate, also play an important role. There is evidence for insider-based hysteresi...

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Journal:
Economic Journal
Volume:
100
Publication date:
1990-01-01
URN:
uuid:79828ae6-5705-4907-bfb8-01a3307f9a1c
Local pid:
oai:economics.ouls.ox.ac.uk:10576
Language:
English

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