Fear, Unemployment and Pay Flexibility /
The paper uses newly available cross-section data to study wage determination in the United Kingdom in the 1980s. The results are contrasted with those from a comparable sample from the US from 1977-1988.
Gespeichert in:
- 1. Verfasser:
- Körperschaft:
- Format:
- Elektronisch E-Book
- Sprache:
- Englisch
- Veröffentlicht:
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Cambridge, Mass.
National Bureau of Economic Research
1990.
Cambridge, Mass. : National Bureau of Economic Research, 1990.
- Zusammenfassung:
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The paper uses newly available cross-section data to study wage determination in the United Kingdom in the 1980s. The results are contrasted with those from a comparable sample from the US from 1977-1988.
1) Fear of unemployment substantially depresses pay in both countries.
2) There is some evidence of a wage ratchet in the UK whereby rates of pay are more flexible upwards than downwards.
3) The unemployment elasticity of pay averages -0.1 in the UK and apparently zero in the US.
4) Wages are almost twice as flexible in non-union and small workplaces in the UK.
- Umfang:
- 1 online resource: illustrations (black and white);
- Anmerkungen:
- May 1990.
- Schlagworte: