Wage interactions: comparisons or fall-back options?
Article Abstract:
The importance of wage comparisons to wage negotiations is determined using data from the UK chemical industry between 1978 and 1989. Wages given by dominant industry players can be used not only as reference wages but also as fall back options in pay negotiations. While the reference wages based on those given by industry leaders are considered as possible wage determinants, they are not reflective of the overall industry wage because only major industry players can afford to provide them. It is concluded that wage comparisons are ruled by "fair" considerations instead of fall back options.
Publication Name: Economic Journal
Subject: Economics
ISSN: 0013-0133
Year: 1996
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How low profitability and weak innovativeness undermined UK industrial growth
Article Abstract:
he factors which made the growth of manufacturing output in the UK to grow slower during the 1970s and 1980s relative to other large industrial economies are examined. The slow growth was due to the failure to generate new products and the loss of market share. However, it is demonstrated that the economic reforms of the Thatcher administration had reversed this post-war trend. .
Publication Name: Economic Journal
Subject: Economics
ISSN: 0013-0133
Year: 1996
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