WAGE ADJUSTMENT PROCESSES: A SYNTHETIC TREATMENT*
1978; Wiley; Volume: 16; Issue: 2 Linguagem: Inglês
10.1111/j.1467-8543.1978.tb00280.x
ISSN1467-8543
Autores Tópico(s)Fiscal Policy and Economic Growth
ResumoBritish Journal of Industrial RelationsVolume 16, Issue 2 p. 208-223 WAGE ADJUSTMENT PROCESSES: A SYNTHETIC TREATMENT* John T. Addison, John T. Addison Lecturer in Economics, Department of Political Economy, University of Aberdeen.Search for more papers by this authorJohn Burton, John Burton Principal Lecturer in Economics, School of Economics and Politics, Kingston Polytechnic.Search for more papers by this author John T. Addison, John T. Addison Lecturer in Economics, Department of Political Economy, University of Aberdeen.Search for more papers by this authorJohn Burton, John Burton Principal Lecturer in Economics, School of Economics and Politics, Kingston Polytechnic.Search for more papers by this author First published: July 1978 https://doi.org/10.1111/j.1467-8543.1978.tb00280.xCitations: 12 * We would like to express our gratitude to Jim Nugent, David Pearce and an anonymous referee for their comments on an earlier draft of this paper. AboutPDF ToolsExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onEmailFacebookTwitterLinkedInRedditWechat REFERENCES 1 J. T. Addison and J. Burton, ‘The Identification of Market and Spillover Forces in Wage Inflation: A Cautionary Note’, Applied Economics (forthcoming). 2 A. O. Hirschman, Exit, Voice and Loyalty, Harvard University Press, Cambridge, Mass., 1970. 3 R. H. Freeman, ‘Individual Mobility and Union Voice in the Labor Market’, American Economic Review, Vol. 66, No. 2, May 1976, pp. 361–368. 4 In the ‘informed price-setter’ version of the neo-Walrasian model; see D. A. Walker (‘Competitive Tâtonnement Exchange Markets’, Kyklos, Vol. 25, No. 2, June 1972, pp. 345–63) for a more detailed description of this and other versions. Note also that Walras himself did not in fact provide an analysis of market equilibriating processes. It is for this reason that we here use the term ‘neo-Walrasian’ to describe the tâtonnement model of the wage adjustment process. 5 See C. Kerr, ‘Labor Markets: Their Character and Consequences’, American Economic Review, Papers and Proceedings, Vol. 40, No. 2, May 1950, pp. 278–91. 6 C. Kerr, ‘ The Balkanisation of Labor Markets, in E. W. Bakke (ed.), Labor Mobility and Economic Opportunity, Technology Press of M. I. T., Cambridge, Mass., 1954, pp. 92–110. 7 R. A. Adams, ‘Wage Determination: Reconciling Theory and Practice’, American Journal of Economics and Sociology, Vol. 34, No. 4, October 1975, pp. 353–64. 8 W. Brown and K. Sisson, ‘The Use of Comparisons in Workplace Wage Determination’, British Journal of Industrial Relations, Vol. 13, No. 1, March 1975, pp. 23–53. 9 D. A. Smith, ‘Labour Market Institutions and Inflation’, British Journal of Industrial Relations, Vol. 14, No. 1, March 1976 pp. 35–42. 6 See Walker, op. cit., p. 357. 7 L. C. Thurow, ‘Equity Concepts and the World of Work’, American Behavioral Scientist, Vol. 18, No. 3, February 1974, p. 389. 8 Brown and Sisson, op cit, p. 23. 9 See J. T. Addison (‘The Role of Comparability in Wage Determination’, British Journal of Industrial Relations’, Vol. 13, No. 3, November 1975, pp. 388–95) for a discussion of this point. 10 See Addison and Burton (forthcoming), op. cit.. 11 As seen, for example, in the works of Adams, op. cit.; J. L. Baxter, ‘Inflation in the Context of Relative Deprivation and Social Justice’, Scottish Journal of Political Economy, Vol. 20, No. 3, November 1973, pp. 262–82. 16 Brown and Sisson, op. cit.; M. J. Piore, ‘Fragments of a “Sociological” Theory of Wages’, American Economic Review, Papers and Proceedings, Vol. 63, May 1975, pp. 377–84. 17 Smith, op. cit. We have examined these attempts to analyse wage inflation in terms of sociological theory in detail elsewhere, see J. Burton, ‘A Critique of the Relative Deprivation Hypothesis of Wage Inflation’, Scottish Journal of Political Economy, Vol. 24, No. 1, February 1977, pp. 67–76; and. 18 J. Burton and J. T. Addison, ‘The Institutionalist Analysis of Wage Inflation: A Critical Appraisal’, Research in Labor Economics, Vol. 1, June 1977, pp. 333–76. 12 See, for example, E. S. Phelps et al., Microeconomic Foundations of Employment and Inflation Theory, Macmillan, London, 1971. 13 J. T. Addison, ‘Information Flows: The Employers' View of the Market’, Applied Economics, Vol. 8, No. 1, March 1976, pp. 370–57; and Burton and Addison, op. cit.. 14 Addison, 1976, op. cit.. 15 The concept of time-intensity in production was originated by G. S. Becker, ‘A Theory of the Allocation of Time’, Economic Journal, Vol. 75, No. 299, September 1975, pp. 493–517. 16 Hirschman, op. cit.. 17 Freeman, op. cit., p. 362. 18 C. C. Holt, ‘ Job Search, Phillips' Wage Relation, and Union Influence: Theory and Evidence’, in Phelps et al., 1971, pp. 53–123. 26 S. C. Salop, ‘Wage Differentials in a Dynamic Theory of the Firm’, Journal of Economic Theory, Vol. 6, No. 4, August 1973, pp. 321–44. 19 With the major exception of Holt, op. cit.. 20 O. Eckstein and T. A. Wilson, ‘The Determination of Money Wages in American Industry’, Quarterly Review of Economics, Vol. 76, No. 3, August 1962, pp. 379–414. See also Kerr, 1950, 1954, op cit.. 29 A. M. Ross, Trade Union Wage Policy, University of California Press, Berkeley and Los Angeles, 1948; 30 Brown and Sisson, op. cit.; and Smith, op. cit.. 21 Note that ‘quitting’ is here defined to include not only employee-initiated job terminations but reductions in employee effort-input etc., see Freeman's definition, op. cit.. 22 Behman's analysis of the wage change diffusion process runs primarily in terms of the MQ combination, but does make allowance for bargaining as well as quit adjustment activities; see S. Behman, ‘Labor Mobility, Increasing Labor Demand, and Money Wage Rate Increases in United States Manufacturing’, Review of Economic Studies, Vol. 31, No. 88, October 1964, pp. 253–66. 23 R. D. Rippe, ‘Wages, Prices and Imports in the American Steel Industry’, Review of Economics and Statistics, Vol. 52, No. 1, February 1970, pp. 34–46. 24 A. Rees, ‘Information Networks in Labor Markets’, American Economic Review, Papers and Proceedings, Vol. 56, May 1966, pp. 559–66. 25 G. J. Stigler, ‘Information in the Labor Market’, Journal of Political Economy, Vol. 70, No. 5, 1962, pp. 94–105. 26 Ross, 1948, op. cit.. 27 J. T. Dunlop, ‘ The Task of Contemporary Wage Theory’, in G. W. Taylor and F. C. Pierson (eds.), New Concepts in Wage Determination, McGraw-Hill, New York, pp. 117–39. 28 Eckstein and Wilson, op. cit.. 29 Holt, op. cit.. 30 H. G. Lewis, Unionism and Relative Wages in the United States, Chicago University Press, 1963. 31 See Dunlop, op. cit.. 42 Kerr, 1954, op. cit.. 43 E. R. Livernash, ‘ The Internal Wage Structure’, in G. W. Taylor and F. C. Pierson (eds.), New Concepts in Wage Determination, McGraw-Hill, New York, 1957, pp. 140–73. 44 J. Meij, Internal Wage Structure, North Holland, Amsterdam, 1963. 45 R. L. Raimon, ‘The Indeterminateness of Wages of Semi-skilled Workers’, Industrial and Labor Relations Review, Vol. 6, No. 2, January 1953, pp. 180–94; and. 46 A. M. Ross, ‘Do We Have a New Industrial Feudalism?’, American Economic Review, Vol. 48, No. 5, December 1958, pp. 903–920. 32 Kerr, 1954, op. cit.. 33 G. S. Becker, ‘Investment in Human Capital: A Theoretical Analysis’, Journal of Political Economy, Supplement, Vol. 70, October 1962, pp. 9–44. 34 G. S. Becker, Human Capital, Columbia University Press, New York, p. 22. 35 D. O. Parsons, ‘Specific Human Capital: An Application to Quit Rates and Layoff Rates’, Journal of Political Economy, Vol. 80, No. 6, NovemberDecember 1972, pp. 1120–143. 36 See also J. H. Pencavel, ‘Wages, Specific Training, and Labor Turnover in U. S. Manufacturing Industries’, International Economic Review, Vol. 13, No. 1, February 1972, pp. 53–64. 37 Becker, 1964, op. cit.. 38 Although in certain work situations gangs of employees may be hired in toto. 39 R. Radner, ‘Problems in the Theory of Markets under Uncertainty’, American Economic Review, Vol. 60, No. 2, May 1970, p. 457. 40 Addison, 1976, op. cit.. 41 O. C. Williamson, M. L. Wachter and J. E. Harris, ‘Understanding the Employment Relation: An Analysis of Idiosyncratic Exchange’, Bell Journal of Economics, Vol. 16, No. 1, Spring 1975, pp. 252–78. Citing Literature Volume16, Issue2July 1978Pages 208-223 ReferencesRelatedInformation
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