We develop and analyse a structural model of efficiency wages founded on reciprocity. Workers are assumed to face an … efficiency wages has important macroeconomic consequences: rent-sharing considerations promote wage rigidity, internal …

The missing wage rigidity in general equilibrium models of efficiency wages is an artifact of the external wage … perspective are capable of generating strong wage rigidity. We propose a structural model of efficiency wages that is broadly …

This paper examines the impact of technological innovation on wages using a panel of UK manufacturing firms. We utilize …. Innovating firms are found to have higher average wages, but rival innovation tends to depress own wages. This appears consistent … with a model where wages are partly determined by a sharing in the rents generated by innovation. In other words innovation …

A theoretical model of collective wage bargaining is developed in which unions set wages and employers decide … to a series of wage bargaining rounds in which collectively determined wage rates rise and employment falls. This dynamic …

Two literatures exist concerning cross-border merger activity’s impact on domestic wages: one focusing on spillover …-effects; the other focusing on bargaining-effects. Motivated by scarce theoretical scholarship spanning these literatures, we nest …-border merger activity, we predict that ‘bargaining’ (‘spillover’) effects are relatively more dominant under high (low …

In this paper we develop a fully game-theoretic version of the right-to-manage model of firm-level bargaining where … strategic interactions among firms are explicitly recognized. Our main aim is to investigate how equilibrium wages and … bargaining power of unions and managers. …