search query: @indexterm PANEL DATA / total: 104
reference: 15 / 104
Author: | BĂ„rdsen, G. Doornik, J.A. Klovland, J.T. |
Title: | Wage formation and bargaining power during the Great Depression |
Journal: | Scandinavian Journal of Economics
2010 : VOL. 112:1, p. 211-233 |
Index terms: | history wage determination pay bargaining panel data econometrics models Scandinavia Nordic countries Norway |
Language: | eng |
Abstract: | This paper presents an econometric analysis of wage behaviour in Norway during the interwar (here as: i-w.) years. Based on a panel of manufacturing industry data using GMM estimation methods, the empirical analysis shows that wage formation in the i-w. period can be understood with the help of modern bargaining theory and well-established wage equations. Estimated is a long-run wage curve with all the standard features of being homogeneous in prices, proportional to productivity, and with a negative unemployment elasticity. In addition, some new Monte Carlo evidence is presented on the properties of the used estimators. |
SCIMA