Wage Inflation by John Burton (auth.)

By John Burton (auth.)

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A. also 1 The foremost study supporting these contentions is that ofR. G. , 1963). For a critical examination of some of the earlier studies, which comes to the opposite conclusion that the evidence provides some corroboration of the existence of an inflationary bias in the American labour market, see [38]. 53 intimates the same hypothesis. A. found that the coefficient on the unemployment variable (b) was larger for the organised group wage equation [31]. A Canadian study reported similarly [41].

In short, the fact that equation (11) has good predictive power, and that the profits variable is statistically significant, 1 does not provide us with any clear-cut discriminatory evidence in the bargaining power versus demand-pull empirical contest unless it can be shown that the relationship between profits 1 A qualification must be added to this statement. The American evidence, on the whole, supports the inclusion of a profits variable; the British evidence seems much less favourable to this empirical proposition.

An obvious question that must be answered, before this fairly amazing result can be accepted as substantive corroboration of the existence of a cost-push process, is: what determines the rate of change of unionisation? If union membership expansion occurs only because the pressure of demand is running high, and union contraction results from membership unemployment in slack labour market conditions - in short, if LI T is itself determined by the strength of excess demand for labour - then the Hines results would not demonstrate that union pushfulness is an independent force in the determination of the rate of wage inflation.

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