Publisher's Synopsis
This study examines the way in which wage levels are established. The authors differentiate between "internal" and "external" pressures on wages and highlight the importance of factors such as profitability in determining pay structure.;The authors draw on a wide range of methods and evidence, including an examination of collective-bargaining documents, industrial-relations surveys of establishments, cross-section regression estimates, time-series regression estimates and experiments documented in the literature of economics and psychology. They then construct a model of real-wage determination using British data from 1954 to 1983, with a principal concern being testing for profit effects upon pay.
