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- W1035448521 abstract "Wage formation can be seen as the outcome of bargaining between workers and employers about the distribution of output proceeds. Employers and workers each approach this from a different perspective: employers compare the development of total wages against the development of labour productivity and output prices, while workers look at the development of net wages versus inflation. The risk in wage bargaining is that special interests may prevail over the general interest. Coordination in wage formation at a central level, as is customary in the Dutch institutional setting, can reduce this risk. In the long run, efforts to systematically raise (or reduce) the income share of labour can be counterproductive as these will induce changes in the production structure, leading to a new equilibrium with lower (or higher) employment." @default.
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- W1035448521 date "2014-02-01" @default.
- W1035448521 modified "2023-09-27" @default.
- W1035448521 title "Wage Development Considered" @default.
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