1. WAGE DETERMINATION IN KEY MANUFACTURING INDUSTRIES, 1950-70.
- Author
-
Howard, William A. and Tolles, N. Arnold
- Subjects
WAGES ,COLLECTIVE bargaining ,COLLECTIVE labor agreements ,GRIEVANCE procedures ,LABOR unions ,NEGOTIATION ,UNEMPLOYMENT ,UNITED States manufacturing industries - Abstract
This article presents a model of wage determination under collective bargaining and testing its behavior in a critical sector of manufacturing industries in the U.S. during the postwar period of 1950 to 1970. Analysis suggested that in the pace-setting group of key industries in the U.S., where collective bargaining predominates, changes in money wages are mainly determined by the rates of profit experienced two to five years prior to each annual wage adjustment. On the other hand, unemployment rates were found to present a relatively minor influence on wages in the key industrial sector.
- Published
- 1974
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