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Imperfect Labour Markets, the Stock Market and the Inefficiency of Capitalism
Manning, Alan - C.E.P.R. Discussion Papers - 1989
In a capitalist economy capitalists can sell their stake in a firm on the stock market whereas workers cannot sell their jobs. It is argued that when workers have some bargaining power this asymmetry in property rights leads to inefficiencies. The consequences of this are explored and certain...
Persistent link: https://www.econbiz.de/10005662149
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The Pit and the Pendulum: Arbitration in the British Coal Industry, 1893-1914
Treble, John - C.E.P.R. Discussion Papers - 1989
In this paper, we construct a game form based on the constitutions of conciliation boards in the British coal industry and show how the induced game can be used to explain certain features of the wage negotiations for which the conciliation boards were responsible. In particular, we test various...
Persistent link: https://www.econbiz.de/10005666512
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Real and Nominal Wage Rigidities and the Rate of Inflation: Evidence from West German Microdata
Bauer, Thomas; Bonin, Holger; Sunde, Uwe - C.E.P.R. Discussion Papers - 2004
The Paper examines real and nominal wage rigidities. We estimate a switching regime model, in which the observed distribution of individual wage changes, computed from West German register data for 1976-97, is generated by simultaneous processes of real, nominal or no wage rigidity, and...
Persistent link: https://www.econbiz.de/10005666775
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Real Origins of the Great Depression: Monopolistic Competition, Union Power, and the American Business Cycle in the 1920s
Ebell, Monique; Ritschl, Albrecht - C.E.P.R. Discussion Papers - 2007
stock market valuations throughout the 1920s. Landmark court decisions in favour of trade unions in the late 1920s, as well … susceptible to collapsing profit expectations. We model the onset of the great depression as an equilibrium switch from individual …
Persistent link: https://www.econbiz.de/10005497733
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The Causes of Post-War Slumps and Miracles. An Evaluation of Olsonian Views on German Economic Performance in the 1920s and the 1950s
Paqué, Karl-Heinz - C.E.P.R. Discussion Papers - 1994
originate in changes of the terms of trade or the speed of productivity growth. …
Persistent link: https://www.econbiz.de/10005497872
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Regret and Jubilation in Union Wage Bargaining
Beenstock, Michael - C.E.P.R. Discussion Papers - 1987
A theoretical model of collective wage bargaining is developed in which unions set wages and employers decide employment. A novel feature of the model is that the conventional expected utility calculus is replaced by one in which regret from failed wage bargains and jubilation from successful...
Persistent link: https://www.econbiz.de/10005497944
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Ten Years of Mrs. T.
Bean, Charles R; Symons, James - C.E.P.R. Discussion Papers - 1989
We argue that the 1970s were characterized by attempts to maintain a cooperative, low unemployment equilibrium in the face of considerable union power, through use of incomes policies and neo-corporatist machinery. The 1980s saw a shift away from this, towards direct measures to limit union...
Persistent link: https://www.econbiz.de/10005504742
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Trade, Wages, and Collective Bargaining: Evidence from France
Carluccio, Juan; Fougère, Denis; Gautier, Erwan - C.E.P.R. Discussion Papers - 2015
We estimate the impact of international trade on wages using data for French manufacturing firms. We instrument firm …-level trade flows with firm-specific instrumental variables based on world demand and supply shocks. Both export and offshoring … heterogeneous effects. The impact of trade on wages varies across bargaining regimes. In firms with collective bargaining, the …
Persistent link: https://www.econbiz.de/10011196039
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Employment Determination in British Industry: Investigations Using Micro-Data
Nickell, Stephen; Wadhwani, Sushil B - C.E.P.R. Discussion Papers - 1989
This paper derives and then estimates a model of employment where unions and firms bargain over wages and possibly employment, and efficiency wage considerations may be important. It illustrates the difficulties involved in interpreting many existing attempts to discriminate between alternative...
Persistent link: https://www.econbiz.de/10005661631
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Macroeconomic Implications of Insider Power
Lindbeck, Assar; Snower, Dennis J. - C.E.P.R. Discussion Papers - 1989
The paper constructs a simple macroeconomic model that contains a labor market in which insiders have power in wage negotiations. Wage and employment decisions are assumed to be made before business conditions are known; thus these decisions depend on both the hiring costs and expected dismissal...
Persistent link: https://www.econbiz.de/10005661965