Lohnbildung und Hysteresis

Abstract

"The paper develops a wage-setting model for an insider-dominated monopolistic union. The existence of a stationary policy is proven, according to which wage-setting responds inversely to changes in employment. In contradiction to the Phillips-curve model, this result implies hysteresis effects. It is shown that specific restrictions on the data generating process are imposed by the insider-outsider approach and the Phillips-curve model. These restrictions are tested empirically. Using quarterly data (1962-1988) for the Federal Republic of Germany, evidence is found against the Phillips-curve model while the restrictions implied by the hysteresis model are accepted by the data." (Author's abstract) ((en))

Cite article

Möller, J. & Völker, R. (1991): Lohnbildung und Hysteresis. Empirische Überprüfung eines Insider-Outsider Modells für die Bundesrepublik Deutschland. In: Zeitschrift für Wirtschafts- und Sozialwissenschaften, Vol. 111, No. 3, p. 401-424.