Blanchflower, David G. - 1992
The paper uses CPS data from 1964 to 1985 to test for the existence of rent-sharing in US tabor markets, Using an … consistent with rent-sharing theory (or a labor contract framework with risk-averse firms) and to be inconsistent with the … competitive labor market model. The paper estimates the unemployment elasticity of pay at approximately -0.03, and the profit …