haku: @author Dowrick, S. / yhteensä: 6
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| Tekijä: | Dowrick, S. |
| Otsikko: | Wage pressure, bargaining and price-cost margins in UK manufacturing. |
| Lehti: | Journal of Industrial Economics
1990 : MAR, VOL. 38:3, p. 239-267 |
| Asiasana: | MANUFACTURING INDUSTRY UNITED KINGDOM COLLECTIVE BARGAINING PAY MARGINAL COSTING |
| Kieli: | eng |
| Tiivistelmä: | How are industry price-cost margins affected by labour market conditions? To the extent that union-employer bargaining is efficient, price-cost margins in oligopolistic industries are predicted to depend on wage rents and on the elasticity of substitution between wages and employment in union preferences. Unanticipated wage inflation will also affect margins. Cross-section and time-series analysis of price-cost margins in United Kingdom manufacturing industries finds that margins tend to be eroded by the level of wage rents and are invariant to the rate of wage inflation. These results illuminate the reasons behind the large fluctuations in the aggregate price-cost margin in the UK manufacturing over the last 15 years. |
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