Firm-Specific Determinants of the Real Wage
Bargaining models suggest that firm-specific variables play an important role in wage determination. Yet previous empirical studies of wage determination have largely ignored these variables. Our analysis of a large panel data set of U.S. wage contracts suggests that firm-specific variables suggested by bargaining models. such as the values of sales. the capital-labor ratio, and the financial liquidity of the firm. are important determinants of negotiated real wages.
Year of publication: |
1992-03
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Authors: | Currie, Janet ; McConnell, Sheena |
Institutions: | National Bureau of Economic Research (NBER) |
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