Pay Determination and Industrial Prosperity

Résumé du livre

Addressing the question of why wage levels in Britain continued to rise in the 1980s despite high unemployment, this study examines the way in which wage levels are determined. Carruth and Oswald differentiate between "internal" and "external" pressures on wages, highlight the importance of internal factors such as a firm's profitability, and draw on such sources as collective bargaining documents, industrial relations surveys, cross-section regression estimates, time-series regression estimates, and experiments documented in psychological and economic literature.