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Wages, unions, insiders and product market power

Nickell, Stephen, Vainiomaki, J. and Wadhwani, S. (1992) Wages, unions, insiders and product market power. CEP discussion paper, 77. Centre for Economic Performance, London School of Economics and Political Science, London, UK.

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Abstract

This paper analyses time series data on some 800 British manufacturing companies to address various questions concerning the role of insiders and market power in wage determination. The following are the important results. First, firm specific factors such as productivity gains do influence wage increases. Second, there is no robust evidence of insider power at wok in wage setting. Third, conditions in the external labour market are a very important influence on company wages, although less so for firms with a high degree of market power. Finally, product market power itself has a positive impact on wages, which is enhanced in large firms but is not influenced by union status.

Item Type: Monograph (Discussion Paper)
Official URL: http://cep.lse.ac.uk
Additional Information: © 1992 The Authors
Library of Congress subject classification: H Social Sciences > HD Industries. Land use. Labor
Sets: Collections > Economists Online
Research centres and groups > Centre for Economic Performance (CEP)
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Identification Number: 77
Date Deposited: 21 Aug 2008 08:59
URL: http://eprints.lse.ac.uk/21052/

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