Fear, Unemployment and Pay Flexibility.
The paper uses newly available cross-section data to study wage determination in the United Kingdom in the 1980s. The main results are as follows: (1) fear of unemployment substantially depresses pay; (2) there is some evidence of a wage ratchet whereby rates of pay are more flexible upwards than downwards; (3) the unemployment elasticity of pay averages -0.1; and (4) wages are much more flexible in nonunion workplaces than they are in union workplaces. Copyright 1991 by Royal Economic Society.
Year of publication: |
1991
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Authors: | Blanchflower, David G |
Published in: |
Economic Journal. - Royal Economic Society - RES, ISSN 1468-0297. - Vol. 101.1991, 406, p. 483-96
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Publisher: |
Royal Economic Society - RES |
Saved in:
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