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| Author: | Grosfeld, I. Nivet, J-F. |
| Title: | Insider power and wage setting in transition: Evidence from a panel of large Polish firms, 1988-1994 |
| Journal: | European Economic Review
1999 : APR, VOL. 43:4-6, p. 1137-1147 |
| Index terms: | TRANSITION ECONOMIES INSIDER TRADING PRIVATIZATION POLAND EASTERN EUROPE PAY |
| Language: | eng |
| Abstract: | There is analysed the wage setting behaviour in the period of transition using the `right to manage model'. The results show a significant change in wage bargaining in 1990. However, the insider power, measured by the employees' capacity to capture productivity gains, persists. The sensitivity of wages to productivity changes is is much stronger on the upside than on the downside. In SOEs insiders capture important part of labour productivity gains. In firms transformed into Treasury owned joint stock companies insider effect is weaker. In privatised firms, the bargaining power of the employees is too weak to let them push up wages in response to labour productivty growth. |
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