Wages and International Price Competitiveness: Germany vs U.K

Felix Fitzroy and Michael Funke

CRIEFF Discussion Papers from Centre for Research into Industry, Enterprise, Finance and the Firm

Abstract: The standard bargaining model predicts that falling international price competitiveness should exert downward pressure on wages, in addition to the effect of current unemployment. Cointegration results with aggregate British and German data confirm the model for the U.K., but fail to reveal an effect on Germany's apparently declining competitiveness on wage growth. Some tentative explanations are offered.

Keywords: wages; trade unions; time series (search for similar items in EconPapers)
JEL-codes: C23 J31 J51 (search for similar items in EconPapers)
Date: 1996-10
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Persistent link: https://EconPapers.repec.org/RePEc:san:crieff:9606

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