Counter intuitive results in a simple model of wage negotiations (Q5927695)
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scientific article; zbMATH DE number 1580105
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Counter intuitive results in a simple model of wage negotiations |
scientific article; zbMATH DE number 1580105 |
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Counter intuitive results in a simple model of wage negotiations (English)
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2 July 2003
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The authors introduce an extended version of the wage bargaining model in which multiple wage contract renegotiations and productivity growth are allowed. The union's MUE (`militant union equilibrium'), the MUE wage dynamics and conditions for a wage decrease are established. The long run evolution of wage shares and limit behavior of the MUE as the time between bargaining rounds vanishes are investigated.
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wage bargaining
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wage dynamics
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chaos
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strike
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cyclic behavior
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