Real Wage Determination and Rent-Sharing in Collective Bargaining Agreements

Louis Christofides and Andrew Oswald

The Quarterly Journal of Economics, 1992, vol. 107, issue 3, 985-1002

Abstract: The microeconomic forces that influence real wages are not fully understood. This paper studies pay determination using data on approximately 600 labor contracts. It finds that the real wage is an increasing function of past profitability in the employer's industry, and a decreasing function of the level of unemployment in the employer's region. These results are consistent with rent-sharing theories.

Date: 1992
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Working Paper: Real Wage Determination and Rent-Sharing in Collective Bargaining Agreements (1991)
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