Insider forces in wage determination: new evidence for Norwegian industries

Kare Johansen

Applied Economics, 1999, vol. 31, issue 1, 137-147

Abstract: Using panel data for Norwegian industries, we establish a significant permanent relation between industry wages and industry profitability. The estimated long-run insider weight is above 0.2 and stable both over time and across industries. Industry wages are significantly affected by aggregate unemployment, and the preferred wage equation implies a highly convex wage curve.

Date: 1999
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DOI: 10.1080/000368499324624

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