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This paper explores the sources of bargaining power in wage negotiations. In the standard analyses of wage bargaining … retain their negotiating positions, on which their bargaining power is based. In our analysis, by contrast, the firm can … the bargaining process itself. This approach leads to a new theory of wage determination. …
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"The conventional wisdom that inflation and unemployment are unrelated in the long-run implies that these phenomena can be analysed by separate branches of economics. The macro literature tries to explain inflation dynamics and estimates the NAIRU. The labour macro literature tries to explain...
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reaction theory (CRT), should be used to jointly explain the evolution of inflation and unemployment. A further attraction of …
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reaction theory (CRT), should be used to jointly explain the evolution of inflation and unemployment. A further attraction of …
Persistent link: https://www.econbiz.de/10013317465