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Real wage determination and rent-sharing in collective bargaining agreements

By L. Christofides and A. Oswald

Abstract

The microeconomic forces that influence real wages are not fully understood. This paper studies pay determination using data on approximately 600 labour contracts. It finds that the real wage is an increasing function of past profitability in the employer''s industry, and a decreasing function of the level of unemployment in the employer''s region. These results are consistent with rent-sharing theories

Topics: HD Industries. Land use. Labor
Publisher: Centre for Economic Performance, London School of Economics and Political Science
Year: 1991
OAI identifier: oai:eprints.lse.ac.uk:21093
Provided by: LSE Research Online
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