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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/19113| Title: | Real and nominal wage adjustment in open economies |
| Keywords: | J31 F41 F33 E52 J64 J63 J51 ddc:330 wage formation efficiency wage turnover bargaining rent sharing nominal wage rigidity exchange rate policy competitiveness Offene Volkswirtschaft Reallohn Lohnbildung Lohnrigidität Verhandlungsmacht Gewerkschaft Wechselkurs Schätzung Nordeuropa |
| Issue Date: | 16-Oct-2013 |
| Publisher: | |
| Description: | How are wages set in an open economy? What role is played by demand pressure, international competition, and structural factors in the labour market? How important is nominal wage rigidity and exchange rate policy for the evolution of real wages and competitiveness? To answer these questions, we formulate a theoretical model of wage bargaining in an open economy and use it to derive a simple wage equation where all parameters have clear economic interpretations. We estimate the wage equation on data for aggregate manufacturing wages in Denmark, Finland, Norway, and Sweden from the mid 1960s to the mid 1990s. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/19113 |
| Other Identifiers: | http://hdl.handle.net/10419/19113 ppn:510011438 |
| Appears in Collections: | EconStor |
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