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| Author: | Dhillon, A. Petrakis, E. |
| Title: | A generalised wage rigidity result |
| Journal: | International Journal of Industrial Organization
2002 : MAR, VOL. 20:3, p. 285-311 |
| Index terms: | Pay Competition Negotiation Bargaining |
| Language: | eng |
| Abstract: | This paper provides an alternative explanation of the empirically observed wage rigidity in industrialized economies. The authors provide sufficient conditions under which the negotiated wage in unionized imperfectly competitive industries is independent of a number of product market features, as well as of the bargaining institution, as long as negotiations are centralised at the industry level. |
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